During their investigation, Federal Bureau of Investigation (FBI) agents collaborated with “cooperating witnesses” to develop an Ethereum-based cryptocurrency known as NextFundAI. This digital currency was instrumental in the FBI’s efforts to identify, disrupt, and apprehend alleged fraudsters, as revealed in a press release issued on Wednesday.
According to court documents, NextFundAI is classified as a security token. While there was limited trading activity on the coin, a representative for the FBI refrained from providing further details beyond what is available in public records. It remains unclear whether the FBI engaged with any cryptocurrency firms in the development of NextFundAI.
Joshua Levy, the Acting U.S. Attorney for the District of Massachusetts, announced during a press call that trading on the token had been halted. This decisive action underscores the FBI’s commitment to combatting financial fraud through innovative means.
