CluCoin (CLU)
A Miami-based crypto token (CLU) that ran a 2021 ICO and pivoted to NFTs and a metaverse game. Founder Austin Michael Taylor ('DNPthree') secretly siphoned ~$1.14M of investor funds into online casinos; he pleaded guilty to wire fraud and was sentenced in 2025 to 27 months.
Also known as: CluCoin, CLU, Clu
Summary
CluCoin (CLU) launched on BNB Chain via a 2021 ICO, initially pitched with a charity angle and later pivoting to NFTs ("Goobers") and a metaverse game ("Xenia"); founder Austin Michael Taylor organized an "NFTCon: Into the Metaverse" event to drive interest. [1][2]
The fraud
Beginning in 2022, Taylor diverted about $1.14 million of funds earmarked for CluCoin projects to his personal accounts and then to online casinos (including Stake.com), where he lost the money to a gambling addiction. He publicly confessed to investors in January 2023 and ceded control of the project. [1][2]
Outcome
Taylor pleaded guilty to one count of wire fraud in August 2024 and, on February 14, 2025, was sentenced to 27 months in prison, three years of supervised release, a $10,000 fine, and $1.14 million in restitution and forfeiture. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.