Nathan Gauvin, a Canadian national, faces charges in connection with a $42 million cryptocurrency fraud scheme linked to Gray Digital Capital. Prosecutors allege that Gauvin misrepresented the fund's performance, claiming assets of over $78 million and double-digit returns, while actual growth was only 1.4% monthly. He is accused of diverting investor funds for personal use. The U.S. Securities and Exchange Commission (SEC) has initiated a civil case against Gauvin, and the FBI is actively seeking victims of the fraud. Authorities are also monitoring the liquidity and cryptocurrency markets for similar fraudulent activities. The FBI has connected this case to broader initiatives aimed at countering the financing of terrorism.