U.S. Department of Justice: Executives and Employees of Four Cryptocurrency Market Makers, Including Gotbit, Indicted

BlockBeats News, April 1st, the Northern California branch of the U.S. Department of Justice announced that 10 executives and employees from four cryptocurrency market-making firms have been indicted for allegedly engaging in wash trading to artificially inflate token trading volume and price, involving Gotbit, Vortex, Antier, and Contrarian.

Three of the defendants have been extradited from Singapore to the United States, while 2 others have pleaded guilty and been sentenced. In an undercover operation, the FBI and the IRS Criminal Investigation Division even created multiple cryptocurrencies to investigate illegal volume boosting and pump-and-dump schemes in the industry. Currently, over $1 million in cryptocurrency assets have been seized.