• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

FBI Uncovers Fraud in the Crypto World — Three Firms Charged

user avatar

by Giorgi Kostiuk

a year ago

The US Federal Bureau of Investigation (FBI) has conducted an unprecedented investigation, resulting in the charging of three crypto companies and several individuals with fraud and market manipulation.

Investigation Details

The FBI created a new digital token to expose criminal activities within the crypto sector. This led to charges against Gotbit, ZM Quant, and CLS Global, as well as their leaders and employees.

Charges and Arrests

Federal prosecutors in Boston announced four arrests, five guilty pleas, and the seizure of over $25 million in cryptocurrency. Joshua Levy noted that the defendants engaged in sham trades to artificially inflate token trading volumes.

Modern technology combined with old-school fraud has led to new 'pump and dump' schemes.Joshua Levy

Further Actions

The investigation also involved the FBI setting up a company called NexFundAI to monitor token manipulation. The SEC has filed civil suits against the companies involved.

The case continues to unfold with arrests and charges against key figures, highlighting the importance of transparency and compliance in the crypto space.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Jacob & Co Launches Luxury Watch with Real Bitcoin Mining Capacity

chest

Luxury watchmaker Jacob & Co has partnered with GoMining to launch the Epic X GoMining, a luxury watch that includes Bitcoin mining capabilities.

user avatarMaya Lundqvist

Mog Coin Experiences Modest Gains Amidst Market Fear

chest

Mog Coin has seen a price increase of over 296% in the last 24 hours, despite a broader market sentiment of fear.

user avatarTenzin Dorje

Mog Coin Faces Bearish Pressure Despite Recent Gains

chest

Technical indicators suggest that Mog Coin may struggle to maintain its recent gains as bearish pressure persists.

user avatarLeo van der Veen

Dormant Ethereum Whale Transfers 135,284 ETH to Gemini Exchange

chest

A long-dormant Ethereum wallet has transferred its entire holdings to the crypto exchange Gemini, totaling 135,284 ETH.

user avatarAisha Farooq

Dormant Ethereum Whale Transfers 50,000 ETH to Gemini, Raising Selling Concerns

chest

A long-dormant Ethereum whale has transferred 50,000 ETH, valued at approximately $145 million, to the Gemini exchange, raising concerns about potential selling pressure.

user avatarLi Weicheng

Bcon Global Launches Non-Custodial Crypto Payment Gateway

chest

Bcon Global has launched a non-custodial crypto payment gateway to help businesses accept crypto payments directly to their wallets without intermediaries.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.