The U.S. Department of Justice announced arrests related to Operation Token Mirrors, targeting individuals accused of manipulating digital asset markets through previous fraudulent schemes.
The FBI created a cryptocurrency, NexFundAI, to initiate a law enforcement investigation into market manipulation, resulting in significant arrests and asset seizures.
Over 18 individuals and entities were implicated in this sophisticated scheme, with numerous arrests across the U.S., U.K., and Portugal, highlighting the probe's international reach.
The illegal practice of wash trading, which inflates market activity without genuine transactions, has led to the confiscation of over $25 million in cryptocurrency.
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