CLS Global’s Guilty Plea
What Happened?
CLS Global, a crypto firm, admitted to market manipulation.
The FBI caught them in an operation called "Token Mirrors."
#fra
How the FBI Did It
1. The FBI created a fake cryptocurrency called "MirrorCoin."
2. CLS Global manipulated its price using fake trades (wash trading).
3. Undercover agents recorded CLS Global explaining how they cheated.
Punishments for CLS Global:
1.Paid a $428,059 fine.
2.Banned from using U.S. crypto platforms.
Impact:
Warns other firms not to cheat.
Helps make crypto markets more trusted.
Conclusion
The FBI’s plan worked, catching CLS Global and stopping fraud.
