A court in the Southern District of Florida has entered judgment in absentia against Adam Todd and the Digitex, Digitex, Digitex Software and Blockster Holdings companies under his management. CFTC alleges: from May 2020 through May 2022, the platform executed futures trades and failed to comply with Know Your Customer (KYC) and anti-money laundering (AML) rules.
As for the founder himself, Todd, officials assure officials repeatedly “attempted to pump up the DGTX token rate using a bot” that he used on third-party exchanges to buy tokens. The court ruled that the four aforementioned companies are prohibited from trading in any markets regulated by the CFTC. Digitex is also ordered to pay $3.9 million in compensation and an administrative fine of $11.7 million.
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“Regardless of the technology used, the CFTC will fully utilize its authority to combat manipulation in interstate commodity trading,” said Ian McGinley, head of the Commission’s enforcement division.
The agency recently charged two Florida citizens with a $5 million bitcoin fraud scheme