French Authorities Charge 5 Over Theft of Bored Ape Yacht Club NFTs

French authorities have charged five young individuals for allegedly using a phishing website to scam victims out of millions of dollars worth of their NFTs, including those belonging to the Bored Ape Yacht Club collection. The five are said to have belonged to a criminal gang that stole the tokens, worth an estimated $2.5 million, between late last year and early this year, local media reported.

The alleged scheme saw the individuals use a website to con victims into handing over their tokens under false pretenses. The site promised to transform their tokens from static images into animated ones. Among the five indicted, two are suspected of having masterminded the website including marketing. The other three are suspected of having conducted advertising for the site as well as money laundering.