Milady NFT Prices Fall 55% After Founder Embroiled in Disturbing Scandal
Charlotte Fang, the founder of the popular Milady Maker non-fungible token (NFTs) collection, has allegedly been exposed as a cultist, racist, and child groomer whose actions online may even have led to the loss of life.
Fang, also known as Charlie, announced he was stepping down from his position as CEO following the disclosure. The average floor price of Milady NFTs tanked more than 55% to $454 after the news broke.
Milady Maker is a collection of 10,000 generative art NFTs founded by the anonymous online collective Remilia in August 2021. The aesthetic-styled art pieces sold for around $6,000 in April, drawing interest from top investors including Martin Shkreli, the former hedge fund manager recently released from prison for fraud.
0xngmi, the pseudonymous crypto analyst linked to data aggregator DeFiLlama, posted screenshots from his investigation of Charlotte Fang’s past life on social media and elsewhere in the far-right underworld.
It emerged Fang was the character behind a now-suspended Twitter account going by the name of ‘Miya.’ The account was part of Systemspace, a community that urged people to kill themselves to pursue a ‘better life’ in the ethereal world.
“Miya was involved with a suicide cult that spread through 4chan and promised people who registered on a website and died would be transferred to a paradise world. A 17-year-old teen in Canada killed himself over this,” 0xngmi alleged.
Grooming young people for suicide
The crypto analyst dived into history, allegedly unearthing Miya’s old essays and drawing parallels with Fang’s online behavior. One essay supposedly compared black people to gorillas who should not be allowed to vote and another called for the killing of Jewish people. In yet another, Fang described women as something to be “tamed.”
On social media, Fang allegedly took on multiple fake characters, including the alias Sonya, which shared content of the same nature.
0xngmi also revealed that Fang was part of the Kali Yuga Accelerationism, a frowned upon variation of Hinduism that has become a white supremacist movement known for forcing its followers to commit to odd displays of devotion.
Fang is accused of “grooming” young girls with eating disorders into harming themselves or committing suicide. 0xngmi alleged that the entire Remilia team participated in various hate crimes online.
“All of Remilia seems connected to this: A lot of members followed anorexic girls and Miya-related accounts,” he claimed.
Fang’s ‘toxic baggage hurting Milady’
Charlotte Fang initially denied the allegations and tried to cover up their soiled past, but later admitted to being Miya. Fang apologized over Miya’s “toxic baggage that’s hurting Milady” and announced he would be stepping down as CEO.
Fang claimed that the views shared by Miya do not reflect their real-life opinions. “More bullish than ever for Milady,” he added. “The community will take off moving on from the baggage I brought on.”
Milady prices fell sharply after the reveal. As of Press time, each Milady non-fungible token was selling at an average price of $454, or 0.23 ETH, down 55% over the previous 24 hours, according to CoinGecko. Seven days ago, the NFTs sold for about $2,000 each, with a total volume of more than $4.7 million.
Fang’s reveal has rekindled debates around the issues of anonymity associated with the crypto industry. Critics have often argued that anonymity removes the incentive of accountability and people can get away with nefarious activities.
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