In a major development, Gotbit CEO Alexey Andryunin was arrested in Portugal at the request of the FBI for his involvement as a market maker in the $HMSTR Token project. Following the news, HMSTR's token value plummeted by 12% in just 24 hours, raising alarms across the crypto space. The FBI's undercover operation uncovered widespread manipulation tactics, including "wash trading" and artificial volume inflation, aimed at misleading investors.
The scandal has led to multiple arrests, with over $30 million in cryptocurrency seized. Those involved could face up to 25 years in prison if convicted. This case underscores the importance of vigilance and due diligence in the fast-paced world of cryptocurrency.
Stay cautious and informed!
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