The U.S. Department of Justice announced arrests and charges in a fraud operation involving manipulation of digital asset markets, with the FBI creating a fake cryptocurrency called NexFundAI; several entities and individuals were charged for wash trading and perpetrating schemes like pump-and-dump, resulting in arrests and confiscation of over $25 million in cryptocurrency, illustrating the prevalence of market manipulation and fraudulent activities in the crypto world
https://thehackernews.com/2024/10/fbi-creates-fake-cryptocurrency-to.html