The Federal Bureau of Investigation (FBI) is urging potential victims of cryptocurrency fraud to come forward as it investigates market manipulation involving several cryptocurrency companies. Accusations include “wash-trading” and artificially inflating trading volumes to deceive investors.
FBI Seeks Victims in Major Cryptocurrency Fraud Investigation
The Federal Bureau of Investigation (FBI)’s Boston Division is calling on individuals potentially affected by cryptocurrency fraud to step forward in its ongoing investigation.
The Bureau explained that leaders of four cryptocurrency companies and four market makers are facing charges linked to fraudulent practices and market manipulation. The FBI alleges these individuals engaged in “wash-trading” by creating fake trading volumes through coordinated transactions, misleading investors, and artificially boosting cryptocurrency prices. The scheme targeted several cryptocurrencies, including Saitama, Saitarealty, Saitachain, Robo Inu, VZZN, Lillian Finance, and Nexfund AI.
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“If you bought or sold any of the cryptocurrencies referenced above, or otherwise believe that you may have been impacted by the alleged conduct,” the FBI urged you to contact them. They also encouraged anyone aware of others who may have been impacted to advise them to reach out to the bureau directly.
The agency added:
The FBI is legally mandated to identify victims of federal crimes it investigates. Victims may be eligible for certain services, restitution, and rights under federal and/or state law.
“Your responses are voluntary but may be useful in the federal investigation and to identify you as a potential victim. Based on the responses provided, you may be contacted by the FBI and asked to provide additional information. All identities of victims will be kept confidential,” the FBI noted.
Source: Bitcoin
