Founder of Gotbit Extradited to US on Charges of Market Manipulation and Fraud
Key Points:
- Founder and CEO of Gotbit, Aleksei Andriunin, extradited to the US on charges of wire fraud and market manipulation.
- Andriunin, a 26-year old Russian national, arrested in October 2024 for alleged market manipulation and fraud.
Aleksei Andriunin, the CEO of Gotbit, has been extradited to the US to face charges of wire fraud and market manipulation.
The US Attorney’s Office in the District of Massachusetts announced in a press release on Feb. 26 that Andriunin manipulated crypto markets for client cryptocurrency companies.
He was apprehended in Portugal in October 2024, and a federal jury indicted him on charges of wire fraud and conspiracy to commit market manipulation and wire fraud.
Allegations of Wash Trading
According to the US Department of Justice, Andriunin engaged in wash trading to manipulate trading volume on behalf of crypto companies, with clients in the US.
The alleged crimes took place between 2018 and 2024.
In a 2019 interview, Andriunin purportedly discussed creating a code for wash trading cryptocurrencies to boost trading volume for listing on CoinMarketCap and larger exchanges.
Andriunin, extradited to the US on February 25, 2025, is currently in custody awaiting trial. If convicted, he could face up to 20 years in prison for wire fraud, with additional penalties for conspiracy to commit market manipulation and wire fraud.
The charges carry severe repercussions, including substantial fines and potential forfeiture, as outlined by the USAO, District of Massachusetts.
