Nexfundai Action: When law enforcement officials understand token issuance better than scammers, all 18 defendants probably look foolish.

CoinWorld reports that renewed attention has been drawn to the FBI’s Nexfundai operation. Crypto commentator Evan Luthra and Carl Moon said that the FBI disguised itself as a project team and used an ERC-20 token called Nexfundai (total supply of 100 billion) to contact market makers and help fabricate fake trades. Moon said that the FBI also launched its own cryptocurrency to lure in scammers. Nexfundai is part of the “token mirroring operation,” which is intended to expose activities such as money laundering and pump-and-dump schemes. Luthra said that companies including Gotbit, Mytrade, CLS Global, and ZM Quant were among the targets of this operation. The action resulted in charges being filed against 18 individuals and entities; CLS Global was fined $428,000 for related money laundering transactions and banned from operating in the U.S. for three years.