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Bookmark or Share- FBI created a crypto token so it could watch it being abusedFri 11 Oct 2024 // 05:28 UTC. The FBI created its own cryptocurrency so it could watch suspected fraudsters use it – an idea that worked so well it produced arrests in three countries. News of the Feds' currency, an Ethereum-based instrument named NexFundAI, appeared in a Wednesday Department of Justice announcement that eighteen individuals ...
- This Cryptocurrency Token Was Actually an Undercover FBI OperationThe NexFundAI site now says it was created by the FBI “as part of an investigation into cryptocurrency fraud and market manipulation.” ...
- The FBI secretly created an Ethereum token to investigate crypto fraud ...NexFundAI, the FBI’s Ethereum-based token, was used to investigate price manipulation in crypto markets, resulting in more than a dozen charges brought by the SEC and DOJ.
- Crypto Sting Busts Wash Trading With Fake Company, Made up Token ...The tip prompted prosecutors to launch a fake crypto firm called NexFundAI and create a fake token. Over the monthslong operation, the FBI witnessed three market makers wash trade tokens for ...
- FBI Charges Three Crypto Firms and Multiple Individuals in Fraud SchemeThe FBI charged Gotbit, ZM Quant, CLS Global, and 15 individuals with crypto fraud and market manipulation. Over $25 million in cryptocurrency has been seized, with four arrests and five plea agreements. The FBI uncovered the scheme by using an innovative digital token, NexFundAI. The FBI took major action on Wednesday, charging three ...
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