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The FBI secretly created a coin to investigate crypto pump-and-dump schemes
The agency called it a ‘new twist to old-school financial crime’
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.” On a Wednesday press call, Joshua Levy, the the Acting US Attorney for the District of Massachusetts, said trading on the token was disabled, according to Coindesk.
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