FBI Created Crypto Token ‘NexFundAI’ to Lure Crypto Scammers
The FBI created its own crypto token to bring down crypto market manipulators. Four crypto entities and 18 individuals now face charges for wash trading and fraud.
Posted October 9, 2024 at 11:24 pm EST.
An undercover operation is hardly out of ordinary for the U.S. Federal Bureau of Investigation (FBI). However, this would be the first time the bureau has created its own crypto token in the name of justice.
An unsealed indictment on Wednesday charged firms Gotbit, CLS Global, MyTrade, ZM Quant and 18 individuals for artificially inflating the price of tokens by executing sham trades in exchange for payment.
One of those…
