Image: The Verge The FBI created a cryptocurrency as part of an investigation into price manipulation in crypto markets, the government revealed on Wednesday. The FBI's Ethereum-based token, NexFundAI, was created with the help of cooperating witnesses."As a result of the investigation, the Securities and Exchange Commission charged three market makers" and nine people for allegedly engaging in schemes to boost the prices of certain crypto assets. The Department of Justice charged 18 people and entities for widespread fraud and manipulation" in crypto markets.The defendants allegedly made false claims about their tokens and executed so-called wash trades" to create the impression of an active trading market, prosecutors claim. The three market... Continue reading...

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Image: The Verge An Ohio man named Larry Dean Harmon will serve three years in prison and forfeit more than $400 million worth of cryptocurrency and other assets, the Department of Justice announced on Friday. Harmon was indicted in 2020 on money laundering conspiracy charges related to Helix, a darkweb cryptocurrency mixer" service he ran.Also known as crypto tumbling," services like Helix are designed to hide cryptocurrency transactions - often for illegal drugs - and the identity of people involved. From 2014 to 2017, Harmon processed more than 350,000 Bitcoin (about $311 million USD at the time) in such transactions, according to the DOJ's announcement.Harmon, who pleaded guilty to conspiracy to commit money laundering in August 2021, will be on... Continue reading...