Two guys from Southern California, Gabriel Hay and Gavin Mayo, are facing serious charges for allegedly swindling more than $22 million from unsuspecting investors through fraudulent NFT and digital asset schemes. According to court documents, these guys pulled off a series of “rugpulls” where they would promote non-existent or poorly developed NFT projects to unsuspecting victims, only to abandon them once they had collected enough money.
Some of these shady projects included Vault (which sounds pretty sketchy already!). If convicted, these guys could be looking at some serious jail time and fines for their alleged crimes. It’s important to always do your research before investing in anything, especially when it comes to new and potentially risky ventures like cryptocurrencies and NFTs.
Source