đšIn a major development, Gotbit CEO Alexey Andryunin has been arrested in Portugal at the request of the FBI, awaiting extradition to the U.S. Gotbit was a key market maker for the #HMSTR token, which has since dropped -12% in value over the last 24 hours, sparking concerns among investors.
The U.S. Department of Justice has indicted 16 companies and over a dozen individuals in connection with a cryptocurrency fraud scheme, including Gotbit, ZM Quant, and CLS Global. This investigation led to four arrests, six plea deals, and the seizure of over $30 million in crypto.
đ„ The FBI even launched its own token, NexFundAI, to expose fraudulent practices by posing as a covert project seeking services from various market makers. Employees revealed how they inflate trading volumes and manipulate marketsânow labeled as "wash trading" and "market manipulation."
âïž If convicted, those involved face up to 25 years in prison for their roles in crypto market manipulation. This case serves as a strong reminder of the risks in the crypto space and the importance of staying informed and cautious.
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