The founder of CryptoPhunk and Azuki faced allegations regarding past rug pulls.

On May 10th, ZAGABOND.ETH announced that he was the creator of Azuki , CryptoPhunks, Tendies and Zunks. 

This revelation in the NFT space has raised numerous eyebrows. Zagabond has been accused of abandoning several projects previously, a deceptive act known as a rug pull in the community. Following the news, many holders of Azuki expressed concerns about their NFTs, resulting in a rapid decline in the floor price to around 9 ETH, or approximately $20,700.

On the same day, numerous Twitter Spaces sessions took place, some featuring Zagabond himself. During these discussions, he faced accusations of neglecting three NFT projects and presenting himself as a woman to gain attention and financial backing. Zagabond referred to his identity switch as ‘storytelling’ in a bid to downplay the accusations.

In addition, the Azuki creator admitted to altering the royalty structure and engaging in self-sales of NFTs to boost his profits.

Pauly and Ryder Ripps During one of the Twitter Spaces sessions focused on the allegations, a participant named Pauly urged Zagabond to relinquish all contract keys to the community, warning that failure to do so would result in him being doxxed.

Dear @ZAGABOND & @AzukiOfficial ,

It's time for you to take responsibility and make amends with all the communities you have left behind and taken advantage of.

Since July, you've been evading accountability, but now I'm onto you.

Don't push me to extreme measures. I would prefer not to, but I will if necessary.

Contact me. pic.twitter.com/xUJUXQOPtA

— PAULY (@Pauly0x) May 10, 2022

In response to the backlash from the community, Zagabond stated that he has been on a learning journey throughout his time in Web3. He outlined a new strategy to transfer complete control of contracts back to the communities of his prior projects while also exploring fair ways to redistribute funds.

I fucked up.

Today, after participating in the discussions, I've come to recognize my failures in managing the previous projects I initiated. I sincerely apologize to the communities I've distanced myself from, to the Azuki holders, and to those who placed their trust in me.

1/x

— ZAGABOND.ETH (@ZAGABOND) May 11, 2022

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