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BORED BUNNY

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Overview
RUGGED PROJECT

Estimated earnings 21 mill USD

BoredBunnyNFT was a Non-Fungible Token (NFT) project that was announced in early December of an undisclosed year. It was promoted through celebrity and influencer marketing, with well-known figures such as Floyd Mayweather, David Dobrik, DJ Khaled, French Montana, Jake Paul, and Chantel Jeffries being paid to promote the project. The project gained traction due to its use of celebrity endorsements, and it sold out within an hour of its release.

Project had a supply of 4,999 NFTs and a mint price of 0.4 ETH. The roadmap for the project included the release of merchandise, in-person events, breeding of multiple NFTs, and a private metaverse. Additionally, the project promised the benefit of "2x, 5x, or maybe even 10x the value of your investment within a few days." It wasn't until the team released the third collection, "Bored Mutant Bunny" that investors realized the project was a scam, and it failed to sell.

"Some of the promises the founders of the Bored Bunny NFT collection included the ability to breed multiple NFTs, merchandise, entrance to IRL events and much more. Unsurprisingly, it sold out incredibly fast. People grew concerned with accusations of rigged metadata, an unresponsive team, and funds funnelled into exchanges. Eventually, the Bored Bunny NFT project founders decided to hand the reigns over to a Discord mod, but there was no sign of the $21 million raised by the team." nftevening.com
Red Flags
Despite a smooth start, red flags began to emerge in the weeks following the project's release. According to an analysis conducted by @bax1337, a developer wallet had purchased the Celeb/Influencer NFTs before their reveal on January 9th. This discovery suggested that the team may have had access to the metadata before the reveal or that they had rigged the metadata prior to the reveal.

The team then announced a second collection of 11,111 NFTs at a mint price of 0.4 ETH, called Bored Bad Bunny. Holders of the first Bored Bunny NFT were airdropped one Bored Bad Bunny NFT. The minting of Bored Bad Bunny NFTs generated $10.1 million for the team, and $300k in secondary sales. The funds were eventually funneled through multiple wallets to centralized exchange (CEX) accounts on Kraken, FTX, and Binance.

The team then announced a third collection of 3,000 NFTs called Bored Mutant Bunny, which had a mint price of 0.25 ETH. However, the team began acting distant, and people started asking questions. Only 532 NFTs were minted out of the 3,000. The floor prices of each collection tanked below mint prices.

The founder of Bored Bunny NFT eventually reappeared and claimed to have "been going through a lot of emails." Banks, a well-known YouTuber, commented that he had been offered six figures to promote the project but declined because of the red flags. The founder of Bored Bunny NFT disappeared once again, and the team kept the $21 million in funds.

History
Zach has done a great breakdown and analysis of this project and it's team.


Ties to other scams and rug pulls
A transaction analysis of the Bored Bunny NFT project revealed clear ties to two other million-dollar NFT rug pulls, Ancient Cats Club and Crazy Camels. The project team members claimed to be from Dubai, France, and the UK. Amir Adjaouti and Remy Goma were also identified as being involved in the project.
Celebrity endorsement videos