Quantcast

Founder of cryptocurrency firm Gotbit extradited to US for market manipulation

Tokenized Treasuries Hit Record $4.2B Market Cap as Crypto Correction Fuels Growth
Maximizing BNB Utility on Binance: A Guide to the Benefits
FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapse
Binance recognized by Indonesian cybercrime directorate for collaborative efforts
It's the first institutional investment in the crypto exchange and the investment was made in an unnamed stablecoin, Binance said.
US CPI Inflation Drops to 2.8%: Is Bitcoin About to Explode Again?
Business founder on Binance France allegations: 'What is this madness?'
Indian authorities arrest alleged Garantex founder for US extradition
Trump’s crypto summit ‘not going to have anything on taxes’ — White House official
Bitcoin: USA could sell gold to finance its strategic BTC reserve
Lawmaker of Japanese LDP on crypto regulation: We will classify 'Crypto assets as a new asset class'
Tom Lee Predicts Market Bottom This Week, Still Sees Bitcoin Closing the Year at $150K
IMF deal to ban public sector ‘Bitcoin accumulation’ in El Salvador
Bitcoin: Michael Saylor's company pauses BTC purchases
Head of law enforcement training at Binance: We need 'a unified approach between law enforcement and industry leaders'
Bitcoin Sell-Off Could Be a Textbook 'Breakout and Retest' Play: Godbole
CEO of Binance on crypto market turbulence: 'A tactical retreat, not a reversal'
Bybit hack forensics show SafeWallet compromise led to stolen funds
Bitcoin News: U.S. Spot Bitcoin ETFs See Record Single-Day Outflow of Over $900M as Carry Trades Yield Less Than the 10-Year Treasury Note
How DeFAI can scale safely in the age of AI
CZ unveils crypto investment portfolio with a 98.5% allocation to BNB, 1.3% to BTC
New SEC Cyber Unit Closes Chapter on Agency's Crypto Enforcement Emphasis
SEC Launches Fraud Unit That Exploits Crypto, AI Enthusiasm
CZ on aid for Argentinian rug pull victims: 'Sent 150 BNB. Good luck'
CEO of AUSTRAC on non-AML compliant crypto exchanges: They 'can expect to hear from us'
Memecoin LIBRA in Argentina: A look back at a future state scandal? Crypto Dossier
U.S.-Listed Bitcoin Miners Are Growing Their Share of the Network Hashrate: Bernstein
Governor of Bank of Italy: Crypto 'regulatory divergences between the U.S. and Europe will need to be carefully assessed'
Blockchain Wars: BNB Chain Overtakes Solana and Ethereum in Daily Fees
Former prosecutor of DOJ: The corporate monitorship system is 'in dire need of reform'
Founder of cryptocurrency firm Gotbit extradited to US for market manipulation
Web3/Crypto
Webp   20250227t103403 160
Alexey Andryunin, Founder of Gotbit | LinkedIn

The United States Attorney's Office for the District of Massachusetts has announced the extradition of Aleksei Andriunin, founder of Gotbit, to face charges of market manipulation and wire fraud. The announcement was made in a press release on February 26.

According to the U.S. Attorney's Office, Andriunin, a 26-year-old Russian national residing in Portugal, was arrested on October 8, 2024, and extradited to the United States on February 25, 2025. He appeared in federal court in Boston and was ordered detained pending a future hearing. The indictment also charges Gotbit and two of its directors, Fedor Kedrov and Qawi Jalili, with wire fraud and conspiracy to commit market manipulation.

Between 2018 and 2024, Gotbit allegedly engaged in "wash trading," a form of sham trading used to artificially inflate the trading volumes of various cryptocurrency tokens. This manipulation aimed to deceive investors and secure listings on larger cryptocurrency exchanges. Prosecutors allege that Gotbit's fraudulent trades amounted to millions of dollars, generating tens of millions in illicit proceeds.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

According to a survey conducted by AMBCrypto in August 2024, 78% of cryptocurrency investors consider Binance and Coinbase as the safest crypto exchanges. This endorsement underscores the significant trust these platforms have garnered within the crypto trading community.

Andriunin is the founder and Chief Executive Officer of Gotbit, known for its market-making activities. Under his leadership from 2018 to 2024, Gotbit allegedly provided market manipulation services including wash trading to artificially inflate trading volumes for various cryptocurrency companies. In a 2019 interview, he described developing a code to execute these wash trades aiming to get cryptocurrencies listed on platforms like CoinMarketCap and larger exchanges.

The U.S. Attorney's Office for the District of Massachusetts is responsible for prosecuting federal crimes in the state including cybercrime, financial fraud, and securities violations. The office has been actively involved in addressing cryptocurrency-related fraud as demonstrated by recent cases targeting market manipulation and investment scams within the digital asset sector.

More News

From Bitcoin to Solana: Here’s how major cryptocurrencies moved today – March 29, 2025.

Mar 30, 2025

The Financial Conduct Authority (FCA) announced the refusal of Zeux Limited's application for cryptoasset exchange provider registration under the Money Laundering Regulations (MLRs).

Mar 30, 2025

The National Securities Market Commission (CNMV) has released a list of warnings concerning unregistered financial and cryptocurrency service entities.

Mar 30, 2025

The Commissione Nazionale per le Società e la Borsa (Consob) announced it held a conference discussing the impact of crypto assets and the need to adapt regulatory frameworks to data science.

Mar 30, 2025

The Autorité des Marchés Financiers (AMF) has announced that financial entities, including crypto-asset service providers, are invited to contribute to the European Banking Authority's (EBA) consultation on draft anti-money laundering and...

Mar 30, 2025

Tracking the latest price action across Bitcoin, Ethereum, Binance Coin, and more on March 28, 2025.

Mar 29, 2025