Did The FBI Create a Fake Cryptocurrency to Catch Scammers?

What we’ll cover today:

🚨 FBI Created a Fake Cryptocurrency?

🪙 Bitcoin Just Set a New Record.

💸 From Pocket Change to Millions

1. FBI Created a Fake Cryptocurrency?

That’s exactly what they did in a massive operation called "Token Mirrors."

Here’s what went down:

• The FBI built their own crypto token, NexFundAI, to expose market manipulators.

• Major players like ZM Quant, CLS Global, and Gotbit were caught faking trades (wash trading).

• These fraudsters pumped up token prices to attract investors.

• Once the prices skyrocketed, they executed a pump-and-dump, cashing out and leaving investors with worthless tokens.

The impact:

• 18 arrests were made.

• $25 million in assets were seized.

• Trading bots used for illegal activity were shut down.

This operation shows the FBI means business in the crypto space.

Here’s the whole article

2. Bitcoin Just Set a New Record.

Guess what? On October 10, 2024, Bitcoin peaked with a hashrate of 698 exahashes per second (EH/s).

This milestone is significant because:

• It represents Bitcoin's resilience in the face of declining prices and increasing network challenges.

• Bitcoin miners are continuously advancing and deploying more efficient technologies.

• The rise in hashrate leads to higher energy demands, triggering discussions on the sustainability of Bitcoin mining.

Here’s the whole article.

3. From Pocket Change to Millions.

Imagine turning a modest investment into millions—sounds like a dream, right?

Well, it's reality for one savvy crypto whale who turned $48,400 into a staggering $14 million!

This isn't just luck; it's a tale of strategic brilliance with SPX tokens on the Solana network.

Key highlights:

• Initial purchase: 19.15 million SPX tokens.

• Strategic move: Transferred tokens to Ethereum.

• Current earnings: $1.71 million from selling 4.15 million tokens.

• Remaining tokens: 15 million, with a potential market value of $12.3 million.

Here’s the whole article