FBI Creates "NexFundAI" to Combat Cryptocurrency Market Manipulation

The US Attorney's Office in Massachusetts has announced charges against four cryptocurrency companies (Gotbit, ZM Quant, CLS Global and MyTrade) and 14 individuals for large-scale fraud and manipulation in the cryptocurrency market, in connection with multiple international arrests. The operation is being billed as the first criminal indictment against a financial services company, and the four defendants have agreed to plead guilty to seizing more than $25 million in cryptocurrency during the arrests. The FBI created its own cryptocurrency token, "NexFundAI", in the investigation to combat these frauds, working to bring those involved to justice.