FBI Launches New Cryptocurrency to Expose Fraudsters
The FBI reportedly launched its own cryptocurrency, 'NexFundAI Token,' as part of a sting operation to expose and apprehend fraudulent actors in the crypto space.
This move was revealed alongside charges brought against four cryptocurrency firms and 14 individuals, accused of market manipulation.
Among the accused were market-making companies, with one having faced previous allegations of manipulating memecoin prices, as highlighted by crypto investigator ZachXBT last year.
The FBI’s strategy involved setting up a fake token and company to infiltrate the market, aiming to trap those involved in illicit activities.
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Revolut Prevents Major Fraudulent Transactions in 2023 Amid Crypto ExpansionAccording to official statements, the NexFundAI Token operated on the Ethereum blockchain as a security under law enforcement supervision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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