NexFund AI Sting

Recent crypto frauds have been somewhat joyless. The usual nasty theft, not much panache or anything to really get motivated / intrigued by. Well, for those who mock the US government, it may be hard to believe but the FBI themselves have introduced a welcome round of light relief to the crypto fraud world with an elegant sting. Officers created their own token (clearly NOT a government stablecoin) and waited for the crooks to offer their services. Soon, all manner of unregulated entities, not limited to charlatans and inflators of value et al were eager to offer their services to the backers of "The NexFund AI Token" without realising it was in fact an FBI creation. True, the guilty aren’t laughing but I do feel the Feds deserve plaudits for brightening our day by demonstrating that when you go DLT if not full DeFi, it can mean old-fashioned due diligence becomes tricky for fraudsters pricing up their next “mark.”

SEC, FBI, DOJ Coordinate Takedown Of Fraudulent Crypto Firms
Cointelegraph
FBI Exposes Crypto Fraudsters By Creating Own Token
U Today
Crypto ‘Market Maker’ Caught Wash-Trading A Token Created By Feds
Protos
Crypto Firms Charged With Market Manipulation In US Sting
Bloomberg

While the US government have made a mark on crypto, they aren’t endorsing it and indeed GG at the SEC is being more explicit: SEC Chair Gary Gensler On Crypto: 'It's Unlikely This Stuff Is Gonna Be A Currency' (Yahoo Finance).