FBI’s Groundbreaking Crypto Sting Operation Leads to Major Fraud Bust
Introduction
In a first-of-its-kind operation, the Federal Bureau of Investigation (FBI) has successfully used a fake cryptocurrency token to uncover and arrest 18 individuals involved in a significant fraud scheme. The operation, which spanned several months, centered around an Ethereum-based token called NexFundAI, created by the FBI as part of their sting.
The Sting Operation
The bureau’s innovative approach targeted four major market makers suspected of involvement in multiple pump-and-dump schemes: Gotbit, CLS Global, MyTrade, and ZM Quant. These firms were accused of artificially inflating token prices through fraudulent trades in exchange for kickbacks.
Results of the Operation
As a result of the operation, four individuals…
