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Luckyjerry🍀
@luckyjerry
📰 Gotbit Founder Pleads Guilty to Market Manipulation Charges Aleksei Andriunin, the founder of Gotbit, has pleaded guilty in a U.S. federal court to charges of market manipulation and wire fraud. 📍Gotbit's Key Illegal Activities ✔️ Wash Trading: Artificially inflating trading volume by simultaneously buying and selling the same asset. ✔️ Manipulating token trading volume to make it appear as a popular asset, misleading investors with false signals. ✔️ Using this strategy to increase the likelihood of large exchange listings, artificially boosting the project's value. https://www.reuters.com/technology/cryptocurrency-firm-founder-pleads-guilty-us-market-manipulation-scheme-2025-03-21/
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Luckyjerry🍀
@luckyjerry
📌 What is Wash Trading? Wash Trading refers to an illegal practice where the same entity (or multiple colluding entities) repeatedly buys and sells the same asset simultaneously to artificially inflate trading volume. This creates the illusion that the asset is actively traded in the market, misleading investors.
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Luckyjerry🍀
@luckyjerry
📌 Key Characteristics of Wash Trading ✅ No actual profit or loss → Since the same party is both buying and selling, there is no real investment activity. ✅ Inflating trading volume → Artificially increasing the trading volume of a specific coin or stock to make it appear popular. ✅ Market distortion → Misleading investors into making incorrect investment decisions based on manipulated data. ✅ Exchange listing manipulation → Tokens with high trading volume are more likely to attract attention from major exchanges, increasing their chances of being listed.
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