Articles for tag: cryptocurrency fraud, investor protection, NFT Scams, Rugpull Scheme, Wire Fraud

Market News

Southern California Men Charged in NFT Cryptocurrency Fraud Scheme: Latest Updates on Legal Action

A recent indictment in Los Angeles charges Gabriel Hay and Gavin Mayo with defrauding investors of over $22 million in cryptocurrency through a scheme known as “rug pulls.” This method involves collecting funds from investors for digital asset projects, then abandoning the projects and keeping the money. Both men face serious charges, including conspiracy to ...

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