(2024)
DOJ v. MyTrade MM
Year
2024
Criminal or Civil
Criminal
Year Resolved
Pending (Guilty plea announced in 2024)
Jurisdiction (Court/State)
Federal (U.S. District Court – specific court not mentioned)
Filed By
U.S. Department of Justice (DOJ)
Penalty/Fine (USD)
Not yet disclosed (pending sentencing)
Lawsuit Overview
Liu Zhou, founder of MyTrade MM, operated a market manipulation service offering illicit trading practices such as pump-and-dump schemes and wash trading to cryptocurrency projects. Clients used an online dashboard to automate fake trading volumes for their tokens. Zhou admitted to orchestrating market fraud and agreed to plead guilty to conspiracy to commit market manipulation and wire fraud.
Category
Market Manipulation / Fraud / Wash Trading
Notable Individuals Involved
Liu Zhou (Founder of MyTrade MM)
Investor Loss Estimate
Not specified; however, scheme aimed at defrauding general market participants via pump-and-dump activity
Final Outcome
Plea agreement entered; awaiting sentencing
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