Thread by @marmooznet

Lana Rhoades made 1.8 Million Dollars with her NFT Project.

This is the Story of the Biggest Scam in 2022

First, who is Lana Rhoades?

Unless you are living in a cave or a very religious person, you've already seen her 🙈

Lana Rhoades is the most-searched porn star by Americans on Pornhub.

Even years after she retired from the adult industry, she is still No.1 most-watched 🤯

Since quitting the porn industry, Lana Rhoades became a multi-millionaire.

How so? not from adult movies.

But using her popularity on Instagram and especially OnlyFans.

She charges at least $30,000 per Instagram Post and has lucrative deals with Fashion Nova.

Lana also launched a Podcast. And her business was thriving.

But that was before she got into Web3 and NFTs.

It all started on January 22 when she launched a new NFT project called ''Cryptosis'

It's a collection of 6,969 unique cartoon caricature NFTs based on Lana.

The roadmap promised to award investors with various incentives.

Rewards included:

• Ownership of lands on Sandbox Game

• Signed merchandise

• Personalized messages

• Unique content from Lana.

Lana Rhoades described the NFTs as a “lucrative investment for holders”.

And promised that the value of 'CryptoSis' NFTs will reach the moon.

The beginning of the project was a huge success.

At launch, the NFTs were going for $261 on OpenSea.

And in less than 24 hours, everything was SOLDOUT !!

But this is when the problems started.

Despite her 16 million followers on Instagram the NFTs didn't take off.

Their value decreased dramatically.

In fact, all the NFTs weren't even sold out.

She reduced the collection to 6069.

Rhoades managed to raise $1.5 million from the sale of the NFTs.

At the same time, the NFTs’ value went on a freefall: Traded at only $26,90

Lana abandoned the project and disappeared from the Cryptosis Discord channel.

After complaints, she admitted that 'CryptoSis' project didn't go as she planned.

She said that it was up to her community to somehow bring value to the project going forward.

A guy lost over $4,000 of investment in her NFTs.

She did what we call a Rug Pull.

What is a Rug Pull?

It's a type of crypto scam that occurs when a team pumps their project's token before disappearing with the funds.

Leaving their investors with a valueless asset.

It's the most used scam in the Web3 space.

Lana Rhoades received many criticisms on Discord, Youtube, and Twitter.

Multiple buyers shared their stories of loss and asked to get a refund.

Lana responded that she has to pay the development team and that she has a baby to feed.

She also claimed that people should be more worried about Ukraine than the value of NFTs.

In the end, Lana Rhoades deleted her Twitter account which had more than 1.5 million followers.

She cashed out 1.8 million USD from buyers of her NFT project ⚫

That's it for this story.

Always be careful when investing in an NFT project. Watch out for the 'rug pull' scam

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