The $1.3 Million Frosties Arrest
- NFTs
On March 24, 2022, the U.S. Department of Justice (Southern District of New York), along with agencies like the IRS and Homeland Security, arrested the duo in Los Angeles and charged them with conspiracy to commit wire fraud and conspiracy to commit money laundering — marking one of the first federal criminal prosecutions of an NFT rug pull. Each faced up to 20 years in prison, and authorities noted they were preparing a second fraudulent NFT project (potentially worth $1.5 million) at the time of arrest.
Incident Details
- Type
- FRAUD
- Funds Lost
- $1.3M
- Status
- Partial recovery
ZachXBT's 'Scammers in Paris' investigation matched Telegram profile pictures to Twitter/Instagram accounts, identifying Mathys and Camille. French authorities arrested five individuals in October 2022. ZachXBT's research officially credited in court documents as initiating investigation. Assets partially recovered.