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American investor and former pharmaceutical executive Martin Shkreli has asked a Brooklyn federal court to dismiss claims against him by the NFT collective PleasrDAO over the ownership of a rare recording by the legendary hip-hop group Wu-Tang Clan. The move is the latest episode in a saga that began in June 2024, when PleasrDAO sued Shkreli, claiming he illegally made and kept copies of a one-off album called Once Upon a Time in Shaolin. The Wu-Tang Factor Shkreli’s January 6 filing wants the NFT group’s complaints against him thrown out as they are “preempted by the Copyright Act.” If the case should go on, then the ex-convict wants two members of the Wu-Tang Clan, Robert Diggs, also known as The RZA, and Tarik Azzougarh, who goes by Cilvaringz, to be included in the proceedings because they co-own the album. Shkreli initially purchased the secretive project in 2015 for $2 million at a private auction. Only one copy was made under a contract whose terms prevented the album’s public release until 2103. However, authorities seized the recording in 2018 following the pharma executive’s arrest after accusations of cheating investors and engaging in a stock fraud scheme involving his company, Retrophin Inc. Upon being found guilty, he was sentenced to seven years in prison and ordered to pay a $75,000 fine and $7.3 million in forfeiture. The album was put on sale to help pay off the debt to the government, with PleasrDAO buying it for $4.75 million in July 2021, after which it announced that it would mint the recording into an NFT . Nevertheless, in 2022, Shkreli was videoed playing the supposedly exclusive music on his YouTube channel, saying that he had made several copies of it and had hidden them in safes around the world. The businessman then started taunting the album’s rightful owners, PleasrDAO, reportedly telling them he plays the music on his Discord all the time. He also hosted listening parties for the recording on his X account, purportedly reaching nearly 5,000 people. Fight Over Music Ownership On June 10, 2024, PleasrDAO sued Shkreli, alleging that his actions had caused the collective significant monetary harm, decreasing the album’s marketability and value. While the investor claims his initial purchase agreement allowed him to keep 50% of the copyright even if he sold the actual physical album, PleasrDAO has insisted that their purchase included an agreement where he forfeited all his rights, titles, and interests. In August, a New York judge ordered the former drug firm executive to turn over all copies he’d made of the 31-track album and sign an affidavit affirming that he no longer had any in his possession. Still unsatisfied, the NFT group wrote a letter to the judge, stating its worry that the businessman had not handed over all the copies of the album and asked that he do a deeper search. Shkreli’s lawyers say he made an effort to comply with a list of additional searches requested by PleasrDAO but acknowledged that he may have failed to conduct some of them. The ex-convict recently made headlines after claiming to be the co-creator of a Donald Trump-themed meme coin, DJT, whose authenticity had been questioned amidst accusations of insider trading. The post Martin Shkreli Moves to Dismiss PleasrDAO’s Wu-Tang Clan Album Ownership Claims appeared first on CryptoPotato .
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AA News Crypto News Martin Shkreli NFT PleasrDAO United States
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Canadian Man in Hiding After Claims of Bitcoin-Related Abduction Attempts
An unnamed Canadian crypto forum moderator was reportedly forced to go into hiding with his family following an alleged kidnap attempt where the criminals intended to steal his Bitcoin. According to the local press, the man has been forced to move his family from one Airbnb to the next because the police are apparently unable to guarantee their safety. Criminals Intended to Torture Victim Speaking about the attempted kidnapping, the father of four told the Quebec newspaper La Presse that his would-be abductors had been prepared to mete out violence on him and his children to achieve their goal. He said they had torture equipment and probably intended to cut one of his limbs using a two-foot by two-foot tarpaulin with a hole in the middle and claws around it. The victim’s ordeal began on November 4, 2024, when two masked men threatened him outside his house, but he managed to lock his door before they could gain entry. On November 8, he claimed to have noticed a black car without a license plate parked near his home, prompting him to contact the police. A few days later, the man said he found himself behind the same strange vehicle on a main road before it suddenly swerved, causing him to pull over. One of the car’s occupants then reportedly pulled a gun on the unidentified individual, forcing him to use pepper spray to defend himself. Following investigations, police arrested four suspects, with two of them appearing in court in November 2024, accused of plotting an abduction and being in possession of illegal firearms. Having no prior criminal records, the alleged assailants were released on bail and confined under house arrest until March 2025, when their trial was scheduled to begin. The move left the crypto enthusiast living in fear, as he suspected his attackers may have links to organized crime, compelling him to find temporary accommodation in different places. According to the police, the culprits targeted the victim, believing he owned 2.5 million BTC after being misled by posts on a Facebook page he had been moderating for the last few years. However, the man claims his Bitcoin holdings may be worth only $10,000 at most. Rising Threats According to Casa co-founder Jameson Lopp, there have been more than 100 physical attacks on BTC holders in the last few years. In October 2024, the crypto security expert launched an archive chronicling several violent encounters digital asset owners had faced, including stabbings in New York City and kidnappings in Lithuania and Turkey. This latest case signals rising crypto-related abductions, especially in Canada. In November last year, Dean Skurka, CEO of prominent crypto firm WonderFi, was reportedly hijacked in Toronto and forced to pay $720,000 to secure his release. In the same month, Montreal police discovered the body of crypto influencer Kevin Mirshahi, who had been kidnapped earlier in the year along with three others. Mirshahi had been accused of promoting a pump-and-dump scheme involving a cryptocurrency called Marsan (MRS), whose value plummeted by more than 90%, causing untold losses to thousands of investors. The post Canadian Man in Hiding After Claims of Bitcoin-Related Abduction Attempts appeared first on CryptoPotato . Crypto Potato
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