iX World’s & Debt Field’s IN8 NFT grift collapses

iX World’s IN8 NFT grift, purportedly operating on Debt Field’s know-how, has collapsed.

As per a March twenty seventh message to traders on IN8’s web site;

As of yesterday blockchain vendor DEBT has positioned the IN8 venture on a brief pause.

We now have develop into conscious of recent enterprise challenges involving DEBT and we regrettably want to tell you that sure members of the DEBT Council have determined to indefinitely “pause” the minting of IN8.

iX World doesn’t go into what the “new enterprise challenges” are. BehindMLM famous securities fraud in our January IN8 NFT article, however securities fraud has been unlawful within the US since 1933.

On account of the unspecified “new enterprise challenges”, iX World suggested traders;

We now have determined that one of the best ways to maneuver ahead is to declare the venture non-viable and request that DEBT refund your minting charges.

What does this imply for you:

  1. Your IN8 NFTs are now not eligible for any token reward from IN8
  2. Your minting charges must be refunded by way of the DEBT V2 system by DEBT

IN8 was constructed round IN8 tokens. iX World associates invested in $25 NFT positions, which supplied entry to a “staking” funding scheme.

With Debt Field and iX World already targets of an SEC lawsuit alleging securities fraud, doubling down with a brand new unregistered securities providing appeared fairly silly.

Whereas we are able to’t verify securities fraud is the explanation Debt Field pulled the plug on the IN8 backend, we are able to verify the grift was a large flop.

Since launching in January 2024, IN8 NFT web site visitors has been too low for SimilarWeb to trace.

This doesn’t come as a shock for a variety of causes:

  1. The SEC’s ongoing lawsuit towards Debt Field and iX World alleges $49 million in securities fraud
  2. the vast majority of iX World traders look like Indians who obtained screwed over in Debt Field’s authentic unregistered securities providing
  3. the Indian investigation into iX World is ongoing, with an open arrest warrant issued for founder and CEO Joe Martinez

I’m not anticipating any however pending any additional IN8 NFT updates, we’ll preserve you posted.

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