US agencies, including the SEC, FBI, and DOJ, have charged Gotbit and four other crypto companies with widespread market manipulation.

- The companies were accused of using bots to inflate trading volumes across centralized exchanges (CEXs) through “wash trading.”

- Popular meme coin projects like Saitama and Robo Inu were also implicated.

- Saitama employees, including Russell Armand and Maxwell Hernandez, pleaded guilty to similar charges.

The investigation uncovered millions of fake trades, causing huge losses to investors. 🚨

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