4mo ago

FBI creates fake cryptocurrency in sting operation to catch pump-and-dump market manipulators

www.techspot.com FBI creates fake cryptocurrency in sting operation to catch pump-and-dump market manipulators

The Federal Bureau of Investigation created its own cryptocurrency token as part of an operation to catch fraudsters in the crypto market. The sting, dubbed Operation Token...

cross-posted from: https://lemmy.today/post/17506951

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4mo ago

FBI creates fake cryptocurrency in sting operation to catch pump-and-dump market manipulators

www.techspot.com /news/105096-fbi-creates-fake-cryptocurrency-sting-operation-catch-market.html

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13 comments

They are catching scams by running their own scam?
- The FBI loooooves themselves some honeypots.
  Why go catch criminals when you can set up some links/a token/whatever and they'll come running to you and do the incriminating part themselves AND leave the logs of said activity in your possession?
  Much simpler!
  
  Wouldn't that be entrapment though?

What laws are they prosecuting the users of this unregulated market under?
- "The charges include market manipulation, conspiracy to commit money laundering, and wire fraud, which can lead to sentences of up to 20 years"
  SEC also has a press release
  https://www.sec.gov/newsroom/press-releases/2024-166

Damnit, I was just about to create trump coin, too.