The FBI Created a Fake Cryptocurrency to Catch Market Manipulators. It Worked. 10 Execs Just Got Charged.

Apr 1, 2026 · 7 min read

The DOJ just unsealed charges against 10 crypto executives in a massive wash trading sting called Operation Token Mirrors. The FBI built its own Ethereum token — NexFundAI — to bait them. Here's the full breakdown and what it means for the industry.