Guys, something big has happened in the crypto world! The market maker of the HMSTR token has been arrested in Portugal. This means that a big guy in the crypto world, his name is Alexei Andreunin, who controlled a large company called Gotbit, was arrested at the request of the American FBI, and they are waiting to extradite him to America.
The whole story is that this company was doing things that were not right, meaning they were “rigging” currency prices to make more money. What’s worse is that they were doing complicated things like using “algorithms” to “inflate” trading volume and make people think that their currency was popular.
How did the FBI know about this whole story? They created a fake company and a fake cryptocurrency, and contacted these people to see what they would do. When they talked to them, they discovered that they were using a lot of wrong methods to make money the easy way.
The American government was very upset by this story, and moved quickly. Many people were arrested, and a lot of money was confiscated. The big problem is that those who did this could be imprisoned for a long time.
"Guys, this story tells us that we have to be very careful when we work in the world of crypto, and not everything is as it seems. There are many people trying to cheat us in order to make money."
Simply put, the whole story is that there were people who were playing in the digital currency market to make money in the wrong way, and the US government exposed them and is punishing them.
Words that might be a bit strange:
Crypto: means digital currencies.
Market Maker: A person or company that buys and sells cryptocurrencies in large quantities to influence their price.
Algorithms: These are magic formulas that make computers perform complex calculations quickly.
I hope you understand the story, and if you have any other questions, I am here.
$BNB $um
