The post DOJ Charges 10 Crypto Executives in Token Price Manipulation Case appeared on BitcoinEthereumNews.com.

The DOJ indicted 10 crypto executives for wash trading schemes. Three CEOs were extradited from Singapore. Here’s what happened. The U.S. Department of Justice has charged 10 foreign crypto executives and employees in a wide market manipulation case.  According to the DOJ, the defendants allegedly ran coordinated wash trading schemes to inflate token prices and fake trading volume. Prosecutors said the firms later sold those tokens to unsuspecting investors at artificially high prices.  The case spans four crypto market-making firms and includes arrests, guilty pleas, and more than $1 million in seized crypto assets. Moreover, three defendants, including two CEOs, appeared in federal court in Oakland after extradition from Singapore. Related reading: U.S. Indicts Chinese Firms in Fentanyl Case Involving Crypto Payment Networks Crypto Market Manipulation Charges Target Four Firms According to the DOJ press release, the charged firms include Gotbit, Vortex, Contrarian, and Antier.  Prosecutors said employees at these firms worked as illicit market makers for multiple cryptocurrency tokens. They allegedly placed matching buy and sell orders to create fake market activity. This practice, known as wash trading, made the tokens appear more liquid and popular.  Consequently, outside investors saw false demand signals and entered positions at inflated prices. The DOJ said the firms then planned to sell their own holdings into that manufactured strength. The investigation links the schemes to several separate indictments filed between March and September 2025.  Besides the new arrests, two defendants already pleaded guilty in related cases. The DOJ also confirmed that U.S. authorities have already secured convictions tied to the broader probe. FBI Undercover Crypto Tokens Exposed Wash Trading A major part of the case came from an undercover FBI operation.  According to the DOJ, federal agents created several crypto tokens to identify illicit trading behavior. This setup allowed investigators to directly observe…

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Filed under: News - @ April 1, 2026 9:24 am