US Wash-Trading Probe Heads to Court After 3 Extraditions and 10 Charges

Three crypto market-making executives extradited from Singapore appeared in federal court in Oakland on Monday, as US prosecutors expanded a wash-trading case to 10 foreign nationals tied to four firms. The US Justice Department said the matter traces conduct back to 2018 and alleges coordinated trading used to inflate token prices and volumes; the broader crackdown grew out of an undercover operation unsealed in October 2024.