FBI Exposes Crypto Fraudsters by Creating Own Token
US federal prosecutors have charged multiple cryptocurrency companies, including Gotbit and ZM Quant, with market manipulation and fraud.
They have also targeted a total of 12 individuals who are linked to these entities.
The U.S. Securities and Exchange Commission has unveiled parallel civil charges.
Notably, the investigation included an FBI sting operation that involved creating a fake token called “The NexFundAI Token” in order to trick the fraudsters into offering their fraudulent services. The sting operation, which was part of the undercover investigation, has been described as “unprecedented.”
“The SEC appreciates the assistance of the FBI and the United States Attorney’s Office for the District of Massachusetts, which…
