Crypto Market Maker CLS Global Fined for Wash Trading Fraud
CLS Global, a financial services firm that acted as a “market maker” in the crypto industry, has agreed to resolve criminal charges related to fraudulent market manipulation.
The company duped investors by generating fake trading volume through automated self-dealing on Uniswap.
FBI Uncovers Fraudulent Crypto Trading in Undercover Operation
According to an announcement from the Boston US Attorney’s Office, CLS Global will pay $428,059. The penalty includes both a fine and the seizure of crypto assets. Additionally, the firm will also be prohibited from participating in US crypto markets.
The firm will plead guilty to charges brought in a 2024 indictment from a federal grand jury in Boston, including…
