**Market Manipulator Faces 25-Year Prison Sentence Over HMSTR Token Fraud**
In a major legal case, Gotbit CEO Alexey Andryunin was arrested in Portugal at the FBI's request, and he could be extradited to the U.S. This is a significant event for the cryptocurrency world.
Gotbit Hedge Fund, which was a key market maker for the Hamster Kombat ($HMSTR) token, is now facing serious investigation. As a result, the value of HMSTR has dropped by 12% in the last 24 hours, causing concern among investors.
The U.S. Department of Justice has filed charges against 16 companies and over a dozen individuals in a large-scale cryptocurrency fraud investigation. Among the firms under investigation are Gotbit, ZM Quant, and CLS Global. So far, four people have been arrested, six have accepted plea deals, and over $30 million in digital assets have been seized.
The investigation started when the FBI created a fake cryptocurrency called NexFundAI on the Ethereum blockchain to look into the actions of several market makers. Agents, posing as clients, discovered that these market makers were using algorithms to inflate trading volumes, create fake wallets, and manipulate token prices.
These practices, known as "wash trading," "artificial trading activity," and "market manipulation," have led to serious charges. Those found guilty could face up to 25 years in prison for manipulating the cryptocurrency market.
This case highlights the risks in the crypto world and the heavy consequences of engaging in fraudulent activities. Be cautious when dealing with digital assets.#Hamstercombo #hamsterkombat24 #HamsterTapTap #HamsterTapTap #HamsterKombat
