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Crypto Kingpin Gets Caught Red-Handed: FBI’s Latest Takedown Will Leave You Wondering How They Didn’t See It Coming (Hint: It Wasn’t That Hard)

A  illustration depicting a sly-looking individual behind a computer screen with cryptocurrency charts and graphs in chaos around them. The character's hands are seen manipulating robotic arms that resemble automated trading bots, while their face is obscured by shadows to convey guilt.

The ‘Wild West’ of cryptocurrency is at it again – this time with a guilty plea that’s music to our ears (or should I say, not). Liu Zhou, founder of Mytrade, has taken the fall for running automated wash trades across exchanges, leaving a trail of fake trading volume and market manipulation in his wake. And let me tell you, if Jemima Kelly or Justin Sun could’ve pulled this off, they’d be sipping margaritas on a private island by now.

Source: bitcoin.com

The FBI’s fake cryptocurrency token unraveled a landmark market manipulation case, leading a founder to plead guilty to running automated wash trades across exchanges. The U.S. Department of Justice (DOJ) announced on Wednesday that Liu Zhou, the founder of Mytrade, a cryptocurrency financial services firm, has pled guilty to federal charges of conspiracy to commit market manipulation and wire fraud. The U.S. Attorney’s Office in the District of Massachusetts emphasized […]

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