Cryptocurrency [loss] $14,000

"How a VR startup took the money and ran to the metaverse"

2021-11-25 [vendor] Metaworld serial [chain] polygon
Primary Source ↗
Financial Loss $14,000 (14,000 USD)
Blockchain(s) Polygon

Incident Details

Dedric Reid has repeatedly stolen art and promotional material, passing off other projects’ work as his own, to promote his “MetaWorld” project — a concept he’s been promising (and fundraising for) in various forms since as early as 2016. He’s recently relaunched it with a web3 spin, including metaverse ideas and NFTs into its newest form, but it appears to be as much vaporware as it was five years ago. Reid has raised at least $14,000 over the years for this idea which still has no tangible result, though Engadget believes the true amount scammed is probably higher.

Total loss estimated at $14,000.

Technical Details

Vendor / Product
Metaworld serial

Timeline

  1. 2021-11-25 Breach occurred
  2. 2021-11-25 Publicly disclosed