Aleksei Andriunin, the founder of Gotbit, has been indicted for wire fraud and market manipulation. The indictment alleges that between 2018 and 2024, Andriunin and his company used a sophisticated scheme involving wash trading to create artificial trading volume for cryptocurrencies. This fraud led to tens of millions of dollars in fake trading volume, with the company helping clients to get listed on major platforms like CoinMarketCap.
Andriunin faces up to 20 years in prison and had transferred millions to his personal Binance account. In summary:
– Aleksei Andriunin, founder of Gotbit, indicted for wire fraud and market manipulation. – Alleged six-year scheme used wash trading to generate fake trading volume. – Company used sophisticated algorithms and multiple accounts to avoid detection.
– Gotbit helped clients get listed on platforms like CoinMarketCap through fake volume. – Andriunin faces up to 20 years in prison; transferred millions to personal Binance account.
