The FBI's New Coin and Its Role in Uncovering Crypto Pump-and-Dump Schemes

Thursday, 10 October 2024, 11:02

The FBI launched a cryptocurrency to investigate pump-and-dump schemes. The Ethereum-based token, NexFundAI, led to significant charges against market manipulators in the crypto space. This operation highlighted the ongoing struggles against fraud in digital finance.
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The FBI's New Coin and Its Role in Uncovering Crypto Pump-and-Dump Schemes

The FBI's Actions Against Crypto Fraud

Recently, the FBI created a cryptocurrency as part of a comprehensive investigation into price manipulation in crypto markets. The Ethereum-based token, called NexFundAI, was developed with assistance from cooperating witnesses.

Charges and Investigations

  • Three market makers have been charged by the Securities and Exchange Commission for allegedly boosting crypto asset prices.
  • The Department of Justice charged 18 individuals and entities with

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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