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CFTC brings charges in ‘pig butchering’ case involving digital asset commodities

Entrance of the U.S. Commodity Futures Trading Commission (CFTC).
Photo: JHVEPhoto/Getty Images

Julie DiMauro

3 min read
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CFTC brings enforcement action for misappropriation of over $1.3m in customer funds intended for digital asset commodity and forex trading.

Last week, the Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the US District Court for the Central District of California against California resident Cunwen Zhu and his California-based company Justby International Auctions. 

The complaint alleges that Zhu and Justby fraudulently misappropriated over $1.3m in customer funds

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