FBI seeks crypto fraud victims in major market case

The Federal Bureau of Investigation (FBI) is calling on individuals who may have fallen victim to a cryptocurrency fraud scheme as part of its ongoing investigation into market manipulation involving several cryptocurrency companies. 

The FBI’s Boston Division is urging those affected to come forward, offering potential services and restitution under federal law. 

The FBI has accused leaders from four cryptocurrency companies and four market makers of participating in fraudulent practices, including “wash-trading.” 

This tactic involves creating fake trading volumes through coordinated transactions to mislead investors and inflate the prices of various cryptocurrencies. 

The cryptocurrencies mentioned in the scheme include Saitama, Saitarealty, Saitachain, Robo Inu, VZZN, Lillian Finance, and Nexfund AI. 

"If you bought or sold any of the cryptocurrencies referenced, or believe you may have been impacted by the alleged conduct," the FBI has urged individuals to contact them. 

The agency also encouraged anyone who knows others affected by the scheme to inform them of the ongoing investigation. 

The FBI emphasised that all responses are voluntary and will be confidential. 

Victims may be eligible for certain services and rights as part of the federal investigation. 

Based on the information provided, the FBI may contact respondents for further details as the investigation progresses.