Summary
The FBI created a new Ethereum-based cryptocurrency, NexFundAI, to investigate and catch individuals involved in crypto market manipulation, resulting in charges against 18 people and the recovery of $25 million for investors.
The FBI Made a Crypto Coin Just to Catch Fraudsters
Oct. 12 / Wired “ The Internet Archive is under attack. On top of multiple extinction-threatening lawsuits against the organization that created and maintains the Wayback...
The FBI secretly created a coin to investigate crypto pump-and-dump schemes
Oct. 10 / The Verge / Focuses on the collaborative efforts of the FBI with witnesses, providing a broader context of the investigation's implications in crypto regulation. However, it lacks depth in detailing the aftermath for victims. “ The FBI created a cryptocurrency as part of an investigation into price manipulation in crypto markets, the on Wednesday. The FBI’s Ethereum-based token,...
Oct. 10 / Benzinga / Offers a brief overview of the operation amidst a mix of political headlines, lacking depth and focus on the crypto fraud story. It may serve as a quick reference but fails to provide substantial insights or analysis. “ US Politics Trump Vs. Harris: New Poll Shows Pennsylvania May Flip As Vice President’s Support Among This Key Group Deteriorates Ahead Of Trump Vs. Harris...
FBI Created a Crypto Token to Bait Pump-and-Dump Scammers
Oct. 10 / Gizmodo / Highlights the FBI's innovative approach in creating NexFundAI to expose crypto fraud, offering detailed insights into the wash trading tactics used by the charged firms. Engaging writing enhances comprehension. “ The FBI created its own cryptocurrency company and crypto token in order to bait fraudsters who would make fake trades in order to boost the price before...