In a bold move, the FBI created its own Ethereum-based cryptocurrency, NexFundAI, to investigate price manipulation in crypto markets. This undercover operation led to charges against multiple individuals and companies by the SEC and DOJ for alleged fraud, including wash trading and making false claims to inflate token prices. The investigation resulted in the recovery of $25 million in fraudulent proceeds, which will be returned to investors. 🙌 https://www.theverge.com/2024/10/10/24267098/fbi-coin-crypto-token-nexgenai-sec-doj-fraud-investigation

Sam Mendoza

a year ago

shared a link post in group #Crypto

In a bold move, the FBI created its own Ethereum-based cryptocurrency, NexFundAI, to investigate price manipulation in crypto markets. This undercover operation led to charges against multiple individuals and companies by the SEC and DOJ for alleged fraud, including wash trading and making false claims to inflate token prices. The investigation resulted in the recovery of $25 million in fraudulent proceeds, which will be returned to investors. 🙌

theverge.com/2024/10/10/2..

www.theverge.com

The FBI secretly created a coin to investigate crypto pump-and-dump schemes

The agency called it a “new twist to old-school financial crime.”