UAE Crypto Firm Admits to Wash Trading on Uniswap Following FBI Sting Operation

Quick Summary:

CLS Global deployed "volume generation" algorithms for "many clients” to fake their volume before being baited with a crypto made by the FBI.

The company states on its official website that it is partnered with prominent centralized exchanges, including Binance, Bybit, KuCoin, Bitfinex, OKX, Bitget, and Crypto.com, among others.

But behind the professional façade, prosecutors said CLS Global operated a technical infrastructure specifically designed to manipulate crypto markets.

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Article Details

Author / Journalist: Vince Dioquino

Category: Crypto

Markets: Estonia

Topics: FBI Law and Order Wash trading Criminal charges Uniswap

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-22 @ 03:29:35 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 520 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 25335239

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About Decrypt

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 3 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 11 hours ago

Coverage Areas: Estonia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #63

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