Federal prosecutors in California have charged ten individuals associated with various cryptocurrency firms for their involvement in alleged wash trading schemes aimed at inflating token prices and trading volumes. According to NS3.AI, the charges stem from an undercover FBI operation that developed a token to identify companies providing manipulation services. The Department of Justice (DOJ) stated that the defendants artificially increased trading activity for paying clients before selling into the fabricated demand. Crypto experts have noted that wash trading continues to be widespread, particularly among lower-cap tokens and on smaller or unregulated exchanges.