Gotbit founder and CEO Aleksei Andriunin was extradited to the US on Feb. 25, the US Legal professional’s Workplace, District of Massachusetts stated.
The 26-year previous 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. Legal professional’s Workplace, District of Massachusetts stated in a press launch on Feb. 26 that Andriunin, a 26-year previous Russian nationwide, manipulated crypto markets “on behalf of consumer cryptocurrency firms.”
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 aimed toward manipulating quantity on behalf of crypto firms. In accordance with prosecutors, Gotbit’s purchasers included firms 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 commerce” 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 stated 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 cost of wire fraud offers for a sentence of as much as 20 years in jail, as much as three years of supervised launch, a nice of as much as $250,000 or twice the gross acquire or loss from the offense, restitution and forfeiture. The cost of conspiracy to commit market manipulation and wire fraud offers for a sentence of as much as 5 years in jail, as much as three years of supervised launch, a nice of as much as $250,000 to twice the gross acquire or loss from the offense, restitution and forfeiture,” the USAO, District of Massachusetts wrote.
