Buyer of ‘Jack Dorsey Tweet’ NFT Is Out of Prison and Under Fire From Investors

Sina Estavi, best known for buying the non-fungible token (NFT) of Jack Dorsey’s first-ever tweet, is attempting a comeback after two failed cryptocurrency ventures and nine months in prison – and asking the same investors to trust him again.

Following Estavi’s May 2021 arrest in Iran on charges of “disrupting the economic system,” his CryptoLand exchange folded, leaving customers unable to access their funds, and the price of his Bridge Oracle project’s BRG token tanked. Now out of prison, the Iran-born crypto entrepreneur says he’s trying to make it right with holders of those almost worthless tokens, which were issued on the Tron blockchain.

Last week, Estavi offered to let holders swap those tokens for a new version of BSG running on the Binance Smart Chain. Unlike its namesake token, the new BRG can be sold on several exchanges.

The catch? He wants the original BRG investors to send him their phone numbers and some TRX tokens (the native currency of the Tron network) to verify their holdings. He’ll send them their new tokens within a month or two along with the TRX tokens that were sent for verification, he claims.

“I want the crypto community around the world to support me and for us all to support each other, so that we can continue to be powerful and go further and help the blockchain,” Estavi said in Persian, in one of several interviews with CoinDesk.

Many Bridge Oracle investors said they have their doubts, for numerous reasons. For one thing, Estavi launched and promoted the new token before working out how to repay investors in the old one.

“This gentleman did not swap a single bridge and started to [list new BRG] in new exchanges,” a Bridge Oracle token (BRG) holder who goes by “Mohamad,” told CoinDesk via the Telegram messaging app, referring to Estavi.

Another reason investors are wary is that, according to them, Estavi did not provide definitive details about the potential swap until after being bombarded with questions about it. The swap was officially announced following last week’s announcement that he had put the Dorsey NFT up for sale.

He listed the digital collectible on the OpenSea market for $48.8 million, more than 16 times what he paid for it last year. As of Wednesday, when the auction ended, the highest bid was a mere $280 and Estavi said he may hold onto the asset.

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