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U.S. DOJ Uncovers Alleged Crypto Wash-Trading Network Tied to Four Market Makers

The U.S. Department of Justice has indicted 10 people linked to four crypto market-making firms"Gotbit, Vortex, Antier, and Contrarian"for allegedly manipulating digital token trading volumes and prices. According to federal court filings unsealed Monday in Oakland, prosecutors say the group used fraudulent wash trading to manufacture the appearance of market activity. Three defendants, including two CEOs, were recently extradited from Singapore. Two others have already pleaded guilty and have been sentenced.
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