FBI Crafts Fake Crypto Token in Historic Sting to Tackle Market Manipulation, Charges 18
- The FBI has charged 18 individuals and organisations across several different countries with fraud and other crimes following a sophisticated investigation that uncovered widespread cryptocurrency market manipulation.
- As part of the investigation the FBI created its own crypto token, NexFundAI, to allow it to observe ‘market maker’ firms’ attempts to fraudulently pump the token’s price through wash trading and other illegal tactics at the expense of legitimate investors.
- Many of the organisations and individuals charged either worked at or were closely linked to US-based cryptocurrency company Saitama.
It would appear the scammer has become the scammed.
The US Federal Bureau of Investigation (FBI)…
