- Gotbit founder and CEO Aleksei Andriunin was extradited to the US on Feb. 25, the US Lawyer’s Workplace, District of Massachusetts mentioned.
- The 26-year outdated Russian nationwide was arrested in October 2024 over allegations of market manipulation and fraud.
Aleksei Andriunin, the founder and CEO Gotbit, has been extradited to the US the place he faces fees of wire fraud and market manipulation.
U.S. Lawyer’s Workplace, District of Massachusetts mentioned in a press launch on Feb. 26 that Andriunin, a 26-year outdated Russian nationwide, manipulated crypto markets “on behalf of client cryptocurrency companies.”
He was arrested in October 2024 in Portugal, with a federal jury indicting him over wire fraud and conspiracy to commit market manipulation and wire fraud.
Gotbit founder touted a “code” for wash buying and selling
Particularly, the US Division of Justice alleges that Andriunin undertook wash buying and selling, with these trades geared toward manipulating quantity on behalf of crypto corporations. In response to prosecutors, Gotbit’s purchasers included corporations within the US.
Allegedly, the crimes occurred between 2018 and 2024.
“In a 2019 interview, Andriunin allegedly described how he developed a code to “wash trade” cryptocurrencies to artificially inflate buying and selling quantity for the aim of getting cryptocurrencies listed on CoinMarketCap (a web site that revealed details about “trending” cryptocurrencies) and buying and selling on bigger cryptocurrency exchanges,” the DOJ mentioned within the press launch on Feb. 26.
Andriunin, who was extradited to the U.S. on February 25, 2025, is in custody the place he’ll stay pending the listening to of his case. If discovered responsible, he faces a jail time period of as much as 20 years for wire fraud. Conspiracy to commit market manipulation and wire fraud carry a jail sentence of as much as 5 years plus a nice.
“The charge of wire fraud provides for a sentence of up to 20 years in prison, up to three years of supervised release, a fine of up to $250,000 or twice the gross gain or loss from the offense, restitution and forfeiture. The charge of conspiracy to commit market manipulation and wire fraud provides for a sentence of up to five years in prison, up to three years of supervised release, a fine of up to $250,000 to twice the gross gain or loss from the offense, restitution and forfeiture,” the USAO, District of Massachusetts wrote.
