#WashTrading

FBI Creates Fake Cryptocurrency to Expose Widespread Crypto Market Manipulation

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October 12, 2024 at 01:18AM The U.S. Department of Justice announced arrests in Operation Token Mirrors, targeting individuals accused of manipulating cryptocurrency markets. The FBI created NexFundAI as part of the investigation. Eighteen entities are charged with wash trading, resulting in over $25 million in confiscated cryptocurrency and multiple arrests across several countries. ### Meeting … Read more

FBI created a cryptocurrency so it could watch it being abused

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October 11, 2024 at 01:32AM The FBI created a cryptocurrency, NexFundAI, to monitor and apprehend suspected fraudsters, resulting in arrests in three countries. The initiative targeted alleged “wash trading” schemes aimed at misleading investors. Charges were filed against several individuals and organizations, including Saitama, for manipulating crypto markets and making false statements. ### Meeting Takeaways: … Read more