Mastodawn

⚯ Michel de Cryptadamus ⚯Oct 9, 2024

These are the first crypto bros arrested in the US *just* for market manipulation and not for other kinds of fraud. Hopefully it will not be the last.

* Reuters: https://www.reuters.com/legal/us-charges-18-people-companies-cryptocurrency-fraud-2024-10-09/
* Indictment: https://storage.courtlistener.com/recap/gov.uscourts.mad.272334/gov.uscourts.mad.272334.1.0.pdf

"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."

The fraud involved manipulating #SAITAMA and #VZZN tokens on #Uniswap (a company backed by #Trump supporters #a16z etc.) which is something I wrote a long and detailed piece about here: https://universeodon.com/@cryptadamist/112972939274517315
and predicted specifically this token being wash traded over a year ago here: https://x.com/Cryptadamist/status/1687564633207406593

#crypto #cryptocurrency #bitcoin #Gotbit #ZMQuant #MyTrade #bitcoin #BTC #USDT #Tether #a16z #uspol

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⚯ Michel de Cryptadamus ⚯Oct 9, 2024

The best part of this story is that the #FBI made its own fake #crypto token #NextFundAI (an #AI crypto token, no less) and hired all these "market makers" (really "market manipulators") to pump and dump the token.

Also the list of people arrested includes citizens of the crypto trifecta: #Russia, #China, and #Dubai lol: https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread

#cryptocurrency #DOJ #SEC #OCC #USDT #Tether #Binance

Eighteen Individuals and Entities Charged in International Operation Targeting Widespread Fraud and Manipulation in the Cryptocurrency Markets

BOSTON – Eighteen individuals and entities have been charged for widespread fraud and manipulation in the cryptocurrency markets. Charges were unsealed in Boston against the leaders of four cryptocurrency companies, four cryptocurrency financial services firms (known as “market makers”) and employees at those firms.

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⚯ Michel de Cryptadamus ⚯

also i'm going to brag that i predicted exactly this situation with #SAITAMA market manipulation well over a year ago before these criminal indictments based solely on "on chain" activity.

i'm simultaneously very pleased with myself and completely dismayed that none of the "chain analytics" companies ever flagged such an obvious fraud.

https://x.com/Cryptadamist/status/1844136441749831807

Maybe more importantly #SHIB is a token that comes out of the #CryptoCom world... you know the chinese mafia adjacent company who bought the naming rights to the #LosAngeles stadium.

#crypto #cryptocurrency #blockchain #blockchains #moneylaundering