tldr; Prosecutors in Boston charged 14 individuals with crimes involving crypto companies GotBit, CLS Global, MyTrade, and ZM Quant. This marks the first criminal prosecution for market manipulation in the crypto sector. Employees were caught wash trading a token, NexFundAI, created by the feds. The scheme involved pump-and-dump tactics under the guise of market making. The FBI created its own token to catch the fraudsters. The SEC filed a parallel civil action against individuals for creating false trading markets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
opensandshuts on
Now do stockz
sadiq_238 on
Not going to be nice when we realise 99% companies we believed in were manipulating the market
Sharp-Expert-4643 on
Stop trading garbage coins hoping for a moonshot and you will starve the scammers.
Permitty on
Hopefully the feds get those guys that ran the enhance/bitburn scam
5 Comments
tldr; Prosecutors in Boston charged 14 individuals with crimes involving crypto companies GotBit, CLS Global, MyTrade, and ZM Quant. This marks the first criminal prosecution for market manipulation in the crypto sector. Employees were caught wash trading a token, NexFundAI, created by the feds. The scheme involved pump-and-dump tactics under the guise of market making. The FBI created its own token to catch the fraudsters. The SEC filed a parallel civil action against individuals for creating false trading markets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Now do stockz
Not going to be nice when we realise 99% companies we believed in were manipulating the market
Stop trading garbage coins hoping for a moonshot and you will starve the scammers.
Hopefully the feds get those guys that ran the enhance/bitburn scam