FBI creates fake cryptocurrency in sting operation to catch pump-and-dump market manipulators

https://www.techspot.com/news/105096-fbi-creates-fake-cryptocurrency-sting-operation-catch-market.html

cross-posted from: https://lemmy.today/post/17506951

116 points · 13 comments · view on lemmy.world

13 Comments

scottmeme@sh.itjust.works · 26 pts · 1y (9 replies)

They are catching scams by running their own scam?

schizo@forum.uncomfortable.business · 35 pts · 1y (8 replies)

The FBI loooooves themselves some honeypots.

Why go catch criminals when you can set up some links/a token/whatever and they'll come running to you and do the incriminating part themselves AND leave the logs of said activity in your possession?

Much simpler!

Venat0r@lemmy.world · 4 pts · 1y (7 replies)

Wouldn't that be entrapment though?

schizo@forum.uncomfortable.business · 23 pts · 1y (4 replies)

To add more detail to the other reply, it's only entrapment if they coerce you into doing something you wouldn't have otherwise done.

A cop comes up to you and goes 'bro, lets go steal that car!' would probably be entrapment.

Cops putting a car on a street waiting for someone to steal it wouldn't be.

Akasazh@feddit.nl · 1 pts · 1y (3 replies)

But this would be like a car that has the keys in the ignition and a sign making you aware of that fact.

kn33@lemmy.world · 5 pts · 1y

Even that wouldn't be entrapment

schizo@forum.uncomfortable.business · 3 pts · 1y

I mean, that's basically what a trap car is, and those have been litigated to the point it's very clear that it's not entrapment and totally allowed.

I mean you have to be kind of stupid to see an expensive car sitting there with the keys in the ignition and go 'BRO! New ride!', but 'stupid' isn't a criminal defense (so far anyways) and nobody MAKES them get in the car, start it, and drive off.

GeneralDingus@lemmy.cafe · 1 pts · 1y

Thats the point. A stand up citizen wouldnt even care. they may notice a easily stealable item but will just walk by.

Aatube@kbin.melroy.org · 6 pts · 1y

no, because they only provided the opportunity

Revan343@lemmy.ca · 4 pts · 1y

Generally not. Entrapment is very specific, and leaving you the option of doing something illegal without pushing you to do it is decidedly not entrapment.

Reverendender@sh.itjust.works · 8 pts · 1y (1 reply)

What laws are they prosecuting the users of this unregulated market under?

Ranvier@sopuli.xyz · 3 pts · 1y

"The charges include market manipulation, conspiracy to commit money laundering, and wire fraud, which can lead to sentences of up to 20 years"

SEC also has a press release

https://www.sec.gov/newsroom/press-releases/2024-166

SpikesOtherDog@ani.social · 3 pts · 1y

Damnit, I was just about to create trump coin, too.