: HMSTR Token Market Maker Involved in Major Fraud Case!
â ïž Gotbit CEO Alexey Andryunin has been detained in Portugal at the FBIâs request, awaiting extradition to the U.S. Gotbit Hedge Fund was set to act as the market maker for Hamster Kombat ($HMSTR), possibly causing the token to drop 11% yesterday amid these breaking news.
đč U.S. authorities have charged 15 individuals and three companiesâGotbit, ZM Quant, and CLS Globalâwith cryptocurrency fraud. So far, there have been 4 arrests, 5 plea deals, and over $25 million seized in crypto assets.
For those who missed the Reuters article, hereâs whatâs happening: đ» The FBI created a fake token, NexFundAI, on Ethereum to reach out to market makers (MMs). đ» On calls with MMs, employees openly shared their shady practices like wash trading, artificially inflating volumes, and creating fake wallets to simulate organic growth. đ» These manipulative tactics have led to fraud charges that could mean up to 20 years in prison for those involved.
Stay informed, and be careful with your investments. This case could ripple through the entire crypto space!
