The true story of the rise and fall of a man named Gavin Mayo, who “made” $$22 million from NFT scams. Gavin’s story is a classic example of how greed and fraud can lead to downfall, no matter how big the success.
Gavin got his start in the crypto world via TikTok. At first, it was just regular videos, but when NFTs became popular, Gavin quickly saw an opportunity to make money. His ambitions grew along with the market, and from 2021 to 2024, he launched several exciting projects: Squiggles, Vault of Gems, Faceless and others.
Each project was accompanied by promises of incredible opportunities: unique utility, ambitious roadmaps, grand partnerships. Everything looked promising. But behind the beautiful words was a cold reality: investors were left with nothing.
One of Gavin's most high-profile projects was Vault of Gems. It was billed as the first jewelry-backed NFT with its own marketplace. Even with a rudimentary promo video, investors poured in over a million dollars in Ethereum. But within weeks, Gavin was gone. There was no marketplace, and the promises were empty words.
Another failed project was Faceless. Here Gavin promised movies, comics, and charitable donations. This time he raised $420,000 in Solana. And again the project was abandoned.
These failures were not accidents - they were part of a well-thought-out scheme. Gavin used the same script:
1) Created hype around the project with fake roadmaps.
2) Hid behind pseudonyms to remain anonymous.
3) Laundered money through multiple wallets.
4) Abandoned the project, leaving investors with nothing.
But his deception didn't end there. When someone tried to expose him, Gavin resorted to threats. He sent threatening messages to whistleblowers, sometimes even including their home addresses. In one letter, he wrote: "This is just the beginning if you don't stop."
Despite the revelations, Gavin continued to launch projects one after another: Sinful Souls, Clout Coin, Dirty Dogs, Moon Portal and others. Each time the result was the same - stolen money and abandoned investors.
In just three years, he and his "colleague" Gabriel Hay stole more than $22 million. The stolen funds were transferred into stablecoins and tokens like LINK, passing through dozens of wallets to cover their tracks.
But their luck ran out… Both men were recently arrested in California. They now face charges of fraud, conspiracy and stalking. If convicted, they could face decades in prison.
The case is the largest fraud case in NFT history, and serves as a reminder that greed fueled by deception inevitably leads to downfall.
In the crypto world, it is important to maintain common sense and remember: loud promises often hide emptiness.
