These sham trades pumped up the token's price and induced others to buy and sell the digital asset.
Internal messages – apparently culled by private Slack channels – show Wolfaardt and co-accused Michael Kane and Shane Hampton using terms such as"wash trades" and"faux buy walls". Prosecutors say they clearly show the trio were aware their scheme was fraudulent. It's still unclear what action, if any, US authorities intend to take to get Wolfaardt to a US court.
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