This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

California man pleads guilty to role in NFT rug pull scheme

( July 25, 2025, 22:32 GMT | Official Statement) -- MLex Summary: Gavin Hay, a California resident, pleaded guilty to his role in a scheme to defraud investors of more than $22 million in cryptocurrency through a series of digital asset project “rug pulls,” a type of fraud scheme in which the creator of a nonfungible token (NFT) or other digital asset project solicits funds from investors and then abruptly abandons the project, and fraudulently retains investors’ funds. Document attached....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections