The post FBI Launched Fake Token ‘NexFundAI” To Expose Crypto Scams appeared on BitcoinEthereumNews.com.

With the expansion of technology, crypto scams are also rising in the crypto industry, creating an urgency for government entities like the FBI to act smarter. In one such attempt, the Federal Bureau of Investigation has played a big mind game, launching a fake crypto token called NexFundAI to expose large-scale crypto crimes. This news came to attention after this secret operation turned successful with the identification and arrest of scammers. Meanwhile, the US election rallies and speeches are in full action with promises of crypto regulations. Recently, even the Tesla owner joined Trump’s rally, showing support for the ex-president with the Elon Musk speech. FBI Introduced NexFundAI To  Lure Market Fraudsters The Pump-and-dump crypto scams in the market are rising exponentially day by day. As a result, the FBI had to make smart decisions to lure the scammers with a fake token. The designated team launched an Ethereum-based token called NexFundAI, which instantly caught the attention of scammers. These pump-and-dump scams involved the manipulation of the token prices in different ways. Initially, they boost the price to attract new investors and crash the market after some time. This makes them heavy gains, leaving the investors at a loss. With this string operation, the FBI has identified 18 individuals, including four crypto companies, four market-making firms, and their employees, as revealed in the press release. Wow, this case get even more insane The FBI created their own coin called “The NexFundAI Token” and enlisted the services of the firms indicted to catch them “The FBI took the unprecedented step of creating its very own cryptocurrency token and company to identify, disrupt, and… — db (@tier10k) October 9, 2024 These scammers have collectively inflated the value of more than 60 tokens, including the Saitama token, which at one point had a…

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Filed under: News - @ October 10, 2024 8:19 am