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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/fbi-initiates-unique-operation-by-launching-its-own-cryptocurrency/" data-wpel-link="internal" rel="noopener noreferrer nofollow">FBI Initiates Unique Operation by Launching Its Own Cryptocurrency</a> 
The Federal Bureau of Investigation (FBI) is not typically known for conducting covert operations involving <a href="https://en.coin-turk.com/how-will-fed-minutes-affect-cryptocurrencies-bitcoin-drops-below-27000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a>. However, it has recently embarked on a unique initiative by launching its own digital currency to further its investigative efforts.
<h2 id="allegations-and-charges">Allegations and Charges</h2>
On Wednesday, a list of unblemished defendants including Gotbit, CLS Global, MyTrade, ZM Quant, and 18 individuals was released, all accused of artificially inflating token prices. These parties engaged in deceptive trading activities by receiving payments in exchange for token transactions.
Among these charges is the Ethereum -based ‘NexFundAI’ token created by the FBI to trap manipulators. Jodi Cohen, the Special Agent in Charge of the FBI’s Boston Division, stated that this initiative represents an “unprecedented step.”
According to DEXScreener, the NexFundAI token currently holds a market value of $177,000, with trading volume surging by 5,000% over the past 24 hours, reaching $3.5 million.
<h2 id="institution-and-individual-statements">Institution and Individual Statements</h2>
Acting U.S. Attorney Joshua Levy noted, “This investigation has identified numerous fraudsters in the cryptocurrency industry. Wash trading has long been banned in financial markets, and cryptocurrency is no exception.”
The FBI encourages affected individuals to come forward by listing its token alongside others like Saitama and Robo Inn. The U.S. Securities and Exchange Commission (SEC) has also initiated lawsuits against Gotbit Consulting, ZM Quant Investment, and CLS Global.
<a href="https://en.coin-turk.com/gemini-files-lawsuit-against-genesis-global-holdco-llc/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase</a> director Conor Grogan expressed uncertainty about the FBI’s awareness of their actions, mentioning that the bureau had disclosed its wallets. After distribution, the FBI’s wallet reportedly executed dozens of transactions by transferring capital to various other wallets.
These developments are part of increasing regulatory efforts in the <a href="https://en.coin-turk.com/qcp-capital-highlights-positive-signals-for-risk-assets-including-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency market</a>. Innovative measures like the FBI’s NexFundAI token are seen as significant steps to detect and prevent market manipulation, potentially enhancing security for cryptocurrency investors.
The post <a href="https://en.coin-turk.com/fbi-initiates-unique-operation-by-launching-its-own-cryptocurrency/" data-wpel-link="internal" rel="noopener noreferrer nofollow">FBI Initiates Unique Operation by Launching Its Own Cryptocurrency</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

FBI Initiates Unique Operation by Launching Its Own Cryptocurrency

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