Thai Parliament President’s Son Accused of NFT Fraud Worth B15m

Thai Parliament President’s Son Accused of NFT Fraud Worth B15m

Surabot Leekpai, known to his fans as “Pluem” on the VRZOChannel, finds himself in the eye of an escalating storm. The popular YouTube personality and son of Parliament President, Chuan Leekpai, is currently facing accusations related to a questionable non-fungible tokens (NFTs) investment project, as stated in a news report. Allegedly, this has led to financial harm, with losses totalling 15 million baht.

Crypto Ronin Project Debacle

In the latter part of 2021, Surabot initiated the ambitious Crypto Ronin NFT project. Designed to blend the worlds of influencers and gaming, the project promised to transform internet idols into playable characters. The advertisement of a full-scale release in the second quarter of last year garnered the project substantial investor attention.

Technical Glitches and Unmet Promises

The project was unfortunately plagued by technical problems rendering the game unplayable. Despite Surabot’s assurances that the game would be operational by August, the problems persisted. Compounding these issues, it was later revealed that the project had not been certified by Bitkub Chain, a leading blockchain network in Thailand.

Withdrawal and Legal Woes

Following the postponement of the game’s release four times and ongoing issues with its functionality, Bitkub made the decision to de-list the game from its registered projects in March. This fueled concerns over possible fraudulent activity, leading investors to lodge formal complaints with the Cyber Crime Investigation Bureau (CCIB).

Impacts on Investors

The individuals most affected by this alleged scheme are the investors who had bought a special NFT package in anticipation of earning income through in-game items. Surabot, with a YouTube following of 6.95 million subscribers, has yet to comment on the situation. Instead, he revealed that his legal counsel is managing the issue, while offering no comment on its potential implications for his father.

The scandal continues to unfold, and its wider repercussions remain to be seen. As it stands, the case offers a sobering reminder of the inherent risks within the rapidly evolving NFT landscape.

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