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NFT scammers charged for stealing $22 million through “rug pulls”

Two Californian men, 23-year-old Gabriel Hay and Gavin Mayo, have been charged with defrauding cryptocurrency investors of over $22 million through a type of fraud scheme known as “rug pulls”. The pair were arrested in Los Angeles by Homeland Security Investigations (HSI) for operating several fake NFT and digital asset projects. Each defendant faces a maximum penalty of 20 years in prison per conspiracy and wire fraud counts, and 5 years for stalking.

Source: www.helpnetsecurity.com –

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