The post US charges GOTBIT, ZMQUANT, CLS GLOBAL, MY TRADE, appeared on BitcoinEthereumNews.com.

Popular crypto sleuth ZachXBT’s one year old prophecies about GOTBIT turned true after the US government charged GOTBIT, ZMQUANT, CLS GLOBAL, MY TRADE for market manipulation and sham trading.  Gotbit has been particularly charged with accusations of indulging in wash trades, and create a spike in Robo Inu’s trading volume, according to the indictment. A short story pic.twitter.com/bTPWqK8gec — ZachXBT (@zachxbt) October 9, 2024 Crypto journalist db posted on X, “Four cryptocurrency companies and 14 individuals have been charged in what U.S. prosecutors on Wednesday said was the first criminal prosecution of financial services firms for market manipulation and sham trading in the crypto sector. Federal prosecutors in Boston charged the firms Gotbit, ZM Quant, CLS Global and MyTrade and their leaders and employees in a takedown that also involved arrests overseas. Five people have already agreed to plead guilty or have done so.”ZachXBT picked up on one of his initial prophecy about GOTBIT’s questionable services last year, when he said, “I would be weary of any projects you see working with the market maker @gotbit_io as a leaked report shows highly questionable services offered.” He even shared a deck that pointed out Gotbit’s market manipulation manouvre. Courtesy: ZachXBT X account According to ZachXBT, Gotbit claimed that: During the first minutes in the price discovery stage, the firm is going to ‘push the price up to 10x to create FOMO and accumulate as much buying power’ as they can to reach extreme Xs and sell maximum tokens on the subsequent spike.ZachXBT tweeted on March 18 2024, “I just listed two in the past week and can name many more scams (ANALOS, SOMBRERO, MACHO, SIMBA, etc). I did not even bring up your insider Telegram groups where you provide info to influencers before dumping on everyone”.  You are proven bad actors…

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Filed under: News - @ October 10, 2024 2:06 am