Wu reported that the U.S. Department of Justice has released an indictment containing six charges against two Southern California men, accusing them of defrauding investors of over $22 million in cryptocurrency through a series of digital asset projects. According to court documents, from May 2021 to May 2024, Hay and Mayo sponsored multiple NFT and other digital asset projects and conducted promotional activities supporting these projects. Hay and Mayo are accused of making or causing others to make significant false and misleading statements regarding upcoming digital asset projects, and providing false and misleading project 'roadmaps.'