Why FBI built a crypto coin of its own to enter cryptocurrency industry
FILE PHOTO: FBI headquarters building is seen in Washington, U.S., December 7, 2018. REUTERS/Yuri Gripas/File Photo
The Federal Bureau of Investigation (FBI) created an Ethereum-based token called NexFundAIto enter cryptocurrency world. But before you set thinking why, the purpose of the NexFundAI crypto coin was part of a sting operation to expose manipulation in cryptocurrency markets. According to a report in The Verge, the FBI’s Ethereum-based token was created with the help of “cooperating witnesses.”
The operation reportedly led to charges against 30 individuals and entities, including three “market makers” and nine others accused of manipulating the prices of certain crypto assets.The defendants allegedly engaged in “wash…
