Barcelona’s Fifth Investigation Court is examining the so-called Shirtum case, a cryptocurrency and NFT project fraud that allegedly caused losses of more than €24 million, or roughly $26 million. Among those named in the case are former Sevilla FC players including Ivan Rakitic and Papu Gomez, according to the indictment.
Fundraising claims and undelivered platform
The indictment says the project initially raised around €3 million worth of BNB by presenting itself as an effort to build an NFT platform. That platform, however, was never launched. The gap between the project’s fundraising narrative and its actual delivery now appears to be a central issue in the court’s investigation.
Off-chain “fake NFTs” and token sales under scrutiny
After the promised platform failed to materialize, the project allegedly issued non-transferable, off-chain “fake NFTs”. It also sold the $SHI token on PancakeSwap at what prosecutors describe as inflated prices. Based on the allegations, investigators are looking at whether the project used the visibility of football figures to attract investors before expanding fundraising through questionable NFT and token mechanics.
Celebrity-linked crypto risks back in focus
The case adds to broader concerns around celebrity involvement in crypto promotions and endorsements. While the investigation is ongoing and the allegations remain subject to judicial review, the size of the claimed losses, the use of public sports figures, and the structure of the NFT and token sales have already made Shirtum a notable case in the discussion around crypto oversight and investor protection in Europe. For investors, it serves as another reminder to examine product authenticity, on-chain transparency, and actual execution before committing capital.