HMSTR Token in Crisis! Market Maker Arrested in Global Crypto Fraud Scandal! đ„
Breaking News: Gotbit CEO Alexey Andryunin has been arrested in Portugal, following an FBI request for extradition to the U.S. The arrest is tied to a huge cryptocurrency fraud scandal involving Gotbit Hedge Fund, the market maker behind the Hamster Kombat ($HMSTR) token.
đč HMSTR Token Impact:
As the news broke, the HMSTR token suffered an 11% drop, causing ripples across the market.
đ Charges Filed:
U.S. authorities have indicted three companies and 15 individuals, including Gotbit, ZM Quant, and CLS Global, for cryptocurrency fraud. So far, this enforcement effort has resulted in:
Four arrests
Five plea deals
$25 million in cryptocurrency seized
đ FBI Sting Operation:
In a bold move, the FBI created a token called NexFundAI on Ethereum, contacting various market makers. During confidential calls, MM employees openly discussed using algorithms designed for market manipulation, including boosting trading volumes and creating fake addresses to mimic organic token growth
Key Findings:
The FBI identified several illegal practices, such as:
"Wash trading"
"Fake transactions"
"Market manipulation"
"Artificially inflating trading volumes"
These crimes carry severe penalties, with those found guilty facing up to 20 years in prison.
đ„ Conclusion:
This monumental crypto fraud takedown has sent shockwaves through the industry, particularly for those involved with the HMSTR token. If youâre holding or trading HMSTR, stay alert and stay informed as this story unfolds!
