Crypto Chaos: NFT Founder Allegedly Flees With Millions in Investor Cash

Another day, another rug pull—except this one comes with a luxury yacht-sized hole in investors’ wallets.

Subheader: The Web3 Trust Problem Strikes Again

Sources claim the anonymous founder siphoned funds meant for development into personal accounts, leaving token holders with nothing but depreciating JPEGs and a masterclass in due diligence failure.

Subheader: When ’Community-Driven’ Means Exit Liquidity

The project’s Discord has gone radio silent, while blockchain sleuths trace the ETH trail to offshore exchanges—because nothing says ’long-term vision’ like a sudden need for tropical banking.

Closing jab: At least traditional finance makes you fill out paperwork before getting robbed.

The name change from Proof of Work Labs to Satoshi Labs was, according to the lawsuit, used to obscure asset control while falsely assuring partners their equity WOULD remain intact.

Despite admitting early on that he had no experience with NFTs, Mills initially pitched the Hashling project to one of the plaintiffs, who brought in collaborators for art, marketing, and event representation. Among those who invested was Mills’ girlfriend, according to the complaint.

The group now seeks full restitution and a constructive trust over the project’s assets, claiming Mills’ actions amount to fraud and a breach of fiduciary duty. Their attorney, Clinton Ind, said the team had worked well together at first, but Mills’ later actions betrayed their trust and financial contributions.