This TikTok Star Scammed $22,000,000 - The Gavin Mayo story
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Who is Gavin Mayo and what is the NFT scam?
So this TikToker claims to be the world's youngest billionaire, and he's about to get busted in the biggest NFT scam of all time. Allegedly. Now, the TikToker's name is Mayo. He's 23, and Mayo is apparently very, very rich.
How did Mayo claim to make his fortune?
What's your net worth now, if you want to review this? Yeah, so I can explain this in a way that might sound crazy. I'm a billionaire.
In fact, bro claims he has so much money that he'll just roll up and buy a whole ass village. A lot of you in your apartments, you have hot tubs.
Well, I bought a village and part of this village. We have hot springs.
Now, where did Mayo get all this money? Well, that's where it gets interesting. Because Mayo, he has a TikTok channel with about 250,000 followers. Not bad. And there, he likes to teach people about crypto and investing. And people follow him and they listen to his advice.
See, crypto is that easy, guys. Follow him for more.
What was the strategy behind the NFT projects?
And so he makes a bit of money in the stock market and soon he gets really into buying and selling NFTs. Now, eventually he moves to Los Angeles and there is where things really take off for him because that's where he comes up with a plan to multiply his money. And so Mayo teams up with a friend of his, this guy, Gabe. And together, Mayo and Gabe plan to create their own NFTs, completely theirs. And they use Mayo's online popularity to promote them. So they make a Twitter and a website for this NFT project. And Mayo, he starts hyping the project up on social media. And they release this promo video. And people are pumped about it. And by the way, these are the actual NFTs they're selling if you wanted to see them. I don't know why anyone would pay money for these, but here they are.
But anyway, bam, they launch it and Mayo and Gabe watch the investments pour in. And after they've collected over like a million dollars, kaboom, they allegedly sell off and abandon the project. And of course, this crashes the value of all the NFTs and the people who invested in it are super pissed. because they lost all their money.
How did Mayo and Gabe allegedly scam investors?
But whatever, Mayo and Gabe got paid, apparently around a million dollars to split. And so they move on and allegedly they decide to do the same thing again. They launch a new NFT based project and they hype it all up and they get people excited to invest and they make a website for it. And if you're curious as to what these NFTs look like, here are a few of them. And remember, people paid actual real money to invest in these. But anyway, so Mayo and Gabe's new NFT project launches and this one raises more than $420,000. And boom, Mayo and Gabe allegedly sell it off and abandon the project again. And then they allegedly move on and do a similar thing on a new project and they do it again and again and again. And they are just raking in the money.
Now at this point, you might be thinking, Ray, why are people investing in their NFT projects if they keep getting scammed? Wouldn't they have a bad reputation by now? Well, that is apparently the secret. Most of these projects, they launch anonymously without their face or name attached to them. Sometimes they'll just make up a fake persona and pretend that that person is the brains behind the project, or they'll hire someone to pretend to be the face of the project. Like this guy was apparently just paid money to pretend to be the face of one of their NFT projects. Now, as Mayo and Gabe's little scheme is growing, at some point they need to hire a team to help them.
Why do investors keep falling for these scams?
And they end up hiring a project manager to organize some stuff. This guy. And I don't know his real name, so we'll just call him Project. And one day, Project is moderating the Discord chat for some of these investors on one of these projects. And this is shortly after they had been scammed by Mayo and Gabe. And people in the chat are talking back and forth like, yo, this feels like a rug pull. Now, a rug pull is a type of NFT or crypto scam. It's basically what they were accusing the Hawk Tua girl of being involved in. So some of these people are pissed and they're like, yo, this feels like a rug pull. Yeah, it does feel like a rug pull. I think we all got conned. And so Project is moderating this discord. And I don't know if he feels guilty or maybe he just values honesty.
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Chapters
6 chapters
1
Who is Gavin Mayo and what is the NFT scam?
0:00–0:16
2
How did Mayo claim to make his fortune?
0:16–0:52
3
What was the strategy behind the NFT projects?
0:52–1:59
4
How did Mayo and Gabe allegedly scam investors?
1:59–3:27
5
Why do investors keep falling for these scams?
3:27–5:08
6
Who is the mysterious Project manager in the scheme?
5:08–8:15
Speakers
1 identifiedMore from Ray William Johnson: True Story Podcast
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