Five states proceeds to close down a metaverse casino that inspectorates declared is run by ‘Russian scammers’ who claimed they were trading digital lands from Snoop Dogg.
A metaverse company named Flamingo Casino Club was accused by five states to conceal alleged ties to Russia while proceeding with non-fungible token (NFT) scams to US residents.
According to declarations on Wednesday the digital casino has to shut down its NFT business, these declarations were made by: Securities regulators in Texas, Wisconsin, Kentucky, New Jersey and Alabama filed.
However development in technologies causes interesting new opportunities for many but, scammers are already trying to abuse the met averse brouhaha,” the Texas State Securities Board announced in a statement Wednesday. “Today’s action may well be just the tip of the iceberg.”
Regulators said by using fake office addresses, unreal phone numbers, and concealing the brand’s real location Flamingo Casino Club is hiding connections to Russia, The club also faked the collaboration with the physical Flamingo Casino in Las Vegas and failed to back claims that it is trading digital land from Snoop Dogg.
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