In May 2024, the FBI launched a surprising new tool in the fight against crypto crime: NexFundAI. This isn’t just any cryptocurrency; it’s a special Ethereum-based token created as part of a secret operation called Operation Token Mirrors. But what does that mean? Let’s dive into this fascinating story.
What’s the Big Idea Behind NexFundAI?
NexFundAI was designed to act like bait, targeting people and organizations involved in shady cryptocurrency schemes, especially “pump-and-dump” scams. In these scams, fraudsters trick investors into buying a cryptocurrency by artificially inflating its price. Once enough people have invested, the scammers sell their tokens for a profit, leaving everyone else with worthless coins.
By looking and acting like a legitimate cryptocurrency, NexFundAI was able to attract these market manipulators. The FBI wanted to see who would take the bait and engage in illegal activities like “wash trading.” This sneaky tactic involves making multiple tr...
Full Access
Included:
-
Access to All Articles.
-
One Plan. No Tiers.
-
No Ads.
-
Cancel anytime.
