Not too many people will be surprised another major rug pull has occurred this weekend. Twitter influencer – or something along those lines – Blue Kirby decided to delete his Twitter and OFF BLUE no longer exists on Rarible.. Interesting timing, after conducting an ICO-NFT sale.
Blue Kirby and OFF BLUE
There have been a few shady projects in the NFT and DeFi space as of late. In a lot of those instances, a user known as Blue Kirby was either involved, allegedly involved, or had some very choice words regarding these matters. Eventually, he decided to explore an NFT-ICO hybrid under the OFF Blue banner, raising over 2,400 Ether in the process.
Less than 72 hours later,t he OFF BLUE project no longer exists on Rarible. Nor does the Twitter account of Blue Kirby. A rather expected turn of events, given all the shenanigans going on in this space lately. For reasons unknown, people keep trusting Twitter influencers with their money and expect things to be on the up-and-up accordingly.
What is intriguing is how Blue Kirby still has an active account on Rarible. Even though he is behind the scammy project – which no longer exists – his personal account is still there. It has no items for sale currently, yet his Ethereum address containing nearly $150,000 in assets is still publicly visible.
During the ICO, OFF BLUE sold NFTs on Raribe for a to-be-determined project. Very little was known about it, yet people contributed money like crazy. An exit scam was always the most likely outcome with so much money at stake. Unfortunately, it has happened once again, and many users are “pissed”, to put it mildly.
Rarible Responds “Meekly”
Whereas some investors had hopes of seeing Rarible intervene, it seems unlikely that will be the case. The team confirms it has suspended the OFF BLUE account for violating the ToS. This does not relate to scamming over 2,400 Ether, but rather due to “facilitating of capital-raising transactions”. A very meek reply, but that too was to be expected. Only “select people” can respond to this Tweet, further adding fuel to the fire.
We have suspended the OFF BLUE team account until further examination due to potential violations of our terms of service. Rarible is not intended to facilitate capital-raising transactions. Please see https://t.co/aMIyqs8dPs or contact [email protected] for details.
— Rarible (@rariblecom) October 10, 2020
As such, it seems unlikely that any real action will be undertaken. Unless the funds are suddenly returned to investors – which is virtually impossible – this will go down as “just another scam”. Unfortunately, that also means no real lessons will be learned from this incident, and history will tend to repeat itself over and over again. Doxxing Blue Kirby is not necessarily the right approach either.