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The FBI Secretly Created a Coin To Investigate Crypto Pump-and-Dump Schemes

The FBI created a cryptocurrency as part of an investigation into price manipulation in crypto markets, the government revealed on Wednesday. From a report: The FBI's Ethereum-based token, NexFundAI, was created with the help of "cooperating witnesses." As a result of the investigation, the Securiti...

The FBI created a cryptocurrency as part of an investigation into price manipulation in crypto markets, the government revealed on Wednesday. As a result of the investigation, the Securities and Exchange Commission charged three "market makers" and nine people for allegedly engaging in schemes to boost the prices of certain crypto assets. "What we uncovered has resulted in charges against the leadership of four cryptocurrency companies, and four crypto 'market makers' and their employees who are accused of spearheading a sophisticated trading scheme that allegedly bilked honest investors out of millions of dollars."

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