CandleFocus US Authorities Charge Gotbit and Other Crypto Firms in Market Manipulation Probe
2024-10-10
Author: Content Editor
The U.S. SEC, FBI, and DOJ have filed lawsuits against Gotbit and other crypto firms for fraud and market manipulation. Gotbit, a market maker, allegedly manipulated token prices, including $WATER, by claiming to lower prices fairly but selling more tokens than purchased. The WaterCoin development team transferred 844.44M $WATER to new wallets, which were then sold for over $2.35 million in Solana. Fifteen individuals and three crypto businesses have been accused, with more than $25 million worth of cryptocurrency seized. The investigation has expanded to other tokens, and civil suits seek permanent injunctions and financial penalties. Authorities are committed to bringing justice to those affected by these schemes.
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