**Crypto Fraud Charges: Two Arrested in NFT Scam**

Two 23-year-olds from California, Gabriel Hay and Gavin Mayo, have been arrested in Los Angeles for allegedly defrauding investors of over $22 million through an NFT rug pull. The Department of Justice charged them with conspiracy to commit wire fraud, wire fraud, and stalking.

- The duo promoted NFT projects like Vault of Gems, claiming it was backed by hard assets, but allegedly abandoned them after collecting funds.

- They reportedly made false statements and provided misleading roadmaps.

- When exposed, they allegedly harassed the whistleblower.

Authorities vow to combat digital asset fraud.