Summary: Gabriel Hay and Gavin Mayo are two 23 year olds who wanted to test the water and now are in such a deep trouble after allegedly scamming $22 million through rugpulls in NFT and crypto projects. They’re now facing serious federal charges and could spend decades in prison.
The Scammy Duo
Hay and Mayo, both from sunny Southern California, ran multiple NFT and crypto projects from 2021 to 2024, like Vault of Gems, Faceless, and MoonPortal. They hyped these projects as game-changers with epic marketing and fake promises of long-term value. But as soon as the cash came in, they yeeted out, leaving their investors with empty wallets and dashed dreams.
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Vault of Lies
Their Vault of Gems project was a standout scam. They claimed it would be “the first NFT pegged to a hard asset,” but surprise there was no “gem” to back it up. Instead of delivering on their promises, they straight-up abandoned ship after collecting millions. It’s like selling a golden ticket to nowhere.
Whistleblower Woes
When someone tried to call them out for their shady Faceless NFT project, these guys allegedly went full villain mode. Prosecutors say they harassed the whistleblower and even their family, adding emotional damage to their list of crimes.
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What’s Next
Now facing six federal charges, Hay and Mayo could be looking at 20 years in prison for each fraud count. Looks like their “crypto empire” dreams just turned into a courtroom nightmare.
