Bitcoin Developer Luke Dashjr Calling Out “Deceptive” Auction of NFT with His Name
The developer behind the largest crypto asset Bitcoin Luke Dashjr issued an apprehensive tweet on February 27 to an unauthorized site using his name and code to advertise a suspicious non-fungible token (NFT).
Dashjr denied being involved in the development of the supposedly digital assets. He lamented that the misleading site was using his name and code without obtaining his permission to market their product.
Impact of Deceptive Marketing
According to the Dashjr report, the misleading NFT exchanged hands at 0.41 Bitcoins (BTC). He revealed that his case relates to other digital asset developers whose names have been misused by bad actors. Dashjr’s tweet has fueled controversial talks among developers, investors, and consumers provoked by unethical business practices in the crypto sector.
In addition, Dashjr revealed that he was neither involved in developing the NFT nor marketing the product. He argued that the site under question used his name and codes without seeking his permission, which was against the law.
Dashjr disclosed that he had engaged the highest bidder of the NFT being advertised on the site to inform him he was not connected to any transaction done by the site. Additionally, Dashjr reported that the site owner had offered to compensate him with 90% of the income generated by the NFT to use his name for advertising the product, which he dismissed.
Dashjr argued that the action taken by the site owner and his team was a strategy to bribe him to buy their idea. The February 27 report revealed that Dashjr demanded 100% compensation for the early gains generated by the digital assets. Also, Dashjr vowed not to use his name or code in such a plot.
Why are Investors Misusing Developers’ Names?
In 2022, hackers exploited Dashjr’s digital wallet private keys, “pretty good privacy (PGP) heisting with a substantial amount of Bitcoin (BTC). Afterward, a subsequent report issued by analysts from OpenSea in 2022 disclosed that approximately 80% of the NFT used its decentralized marketplace adopts deceptive promotions that expose investors to losses.
In the meantime, Dashjr is pushing for the adopt tougher crypto asset security measures to shield developers, consumers, and investors from exploitation.
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