Reported 27 days ago
The founder of cryptocurrency firm MyTrade, Liu Zhou, pleaded guilty to market manipulation and wire fraud in a federal court after a unique FBI operation led to his arrest. Dubbed 'Operation Token Mirrors', this investigation involved the creation of a mock cryptocurrency, NexFundAI, intended to uncover fraud in the crypto industry. Zhou, who allegedly facilitated sham trading to inflate token values, faces a potential prison sentence of up to 1.5 years. His company is required to end practices that enabled fraudulent trading activities.
Source: YAHOO