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FBI Unleashes AI-Powered Crypto Monster: The Wild Scheme That’s Leaving Scammers Shaken

Crypto NewsCybersecurityFeatured Linda Williams October 14, 2024

A illustration depicting a giant robot (representing AI) holding a cryptocurrency token ('NexFundAI') in its metallic hand while surrounded by chaotic and distorted screens displaying fake investment charts, with several scammers running away from it in fear.

The FBI’s latest foray into crypto land is a doozy – and it’s not because they’ve finally cracked the code to making Bitcoin useful (spoiler alert, they haven’t). No, what’s got everyone talking is their brazen admission of creating a fake AI fund coin, dubbed ‘NexFundAI,’ specifically designed to snare unsuspecting scammers. It’s like something straight out of a Bond villain movie – who needs real-world heists when you can just create your own cryptocurrency and manipulate the market? The FBI reportedly worked with crypto exchange LBank and firm MyTrade MM to launch this token, which was allegedly used for wash trading and pump-and-dumps. And let me tell you, it’s not like these scammers were exactly subtle – one of them even admitted that they had to ‘make investors lose money in order to make a profit’ (because who doesn’t love a good game of crypto roulette?).

Source: cointelegraph

FBI token: How the FBI used a fake AI fund coin to nab fraudsters
https://cointelegraph.com/news/fbi-token-fake-ai-fund-coin-fraud
The United States Federal Bureau of Investigation used a fake artificial intelligence fund crypto to catch alleged fraudsters engaged in market manipulation.According to an Oct. 7 indictment in Massachusetts Federal District Court, the coin, which the agency called “NexFundAI (NEXF),” was presented as a crypto security that claimed to represent shares in an AI-related fund. Per the indictment, the FBI told scammers that it wanted help manipulating the token’s trading […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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