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Read more: FBI’s $1.7 Million Seizure Of Cryptocurrencies Reveals Bold Action
According to a developer at Abstract Chain with the handle @0xCygaar on X, the FBI copied several files from OpenZeppelin, one of the most-used libraries in creating smart contracts, without stating the license that comes with the library.
The process is allegedly a violation of the MIT license, which says all copies or substantial portions of the software must include an adequate licensing notice in the FBI NexFundAI token.
“I highly doubt any legal action will be taken, but it’s pretty funny that the FBI themselves are not complying with software licenses,” @0xCygaar said.
The FBI NexFundAI token is part of a bigger effort to expose the cryptocurrency market and its fraudulent actions. The token, implemented on the Ethereum blockchain, was deployed in an investigation into fraud and market manipulation related to cryptocurrency markets.
The investigation to date has involved the indictment of various market makers and their employees from firms including Gotbit, CLS Global, and ZM Quant. According to the indictment, those firms have provided a wash trading service where token prices and trading volumes are artificially inflated in order to gain from reduced exchange fees and then manipulate the market.
The prosecutors said the companies that committed fraud related to tokens included Robo Inu, VZZN, and Saitama. Defendants allegedly performed “wash trading” of such tokens on centralized exchanges with the assistance of bots. One defendant supposedly requested a meeting payment of $2,000 at the beginning of a conference that involved undercover agents in September.
While that successfully took the involved bots out of operation, the FBI NexFundAI token changes hands to this day, at a market capitalization of some $200,000, if data from DEX Screener is anything to go by.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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