To conceal their purchases of crypto assets in advance of Coinbase listing announcements, Nikhil and Ramani used accounts at centralised exchanges held in the names of others, and transferred funds, crypto assets, and proceeds of their scheme through multiple anonymous Ethereum blockchain wallets. "Nikhil and Ramani also regularly created and used new Ethereum blockchain wallets without any prior transaction history in order to further conceal their involvement in the scheme," the US Justice Department had said. (This report has been published as part of the auto-generated syndicate wire feed.