MyTrade founder Liu Zhou was fined $10,000 after admitting that his crypto market-making platform used bots to conduct wash trades for dozens of tokens.
Summary
- Liu Zhou pleaded guilty to conspiracy to commit market manipulation and wire fraud.
- MyTrade bots generated millions of dollars in daily wash trades for about 60 cryptocurrencies.
- An FBI operation used the NexFundAI token to expose MyTrade’s market-manipulation services.
- MyTrade has shut down its wash-trading bots and acknowledged that its “Volume Support” service was illegal.
MyTrade founder receives $10,000 fine
A federal court in Boston ordered Liu Zhou, the founder and primary operator of…
