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BTCC / BTCC Square / Global Cryptocurrency /
Gotbit Founder Sentenced to 8 Months for Crypto Wash Trading Scheme

Gotbit Founder Sentenced to 8 Months for Crypto Wash Trading Scheme

Author:
Global Cryptocurrency
Published:
2025-06-13 21:01:01
6
3

Aleksei Andriunin, the 26-year-old founder and CEO of Gotbit, has been sentenced to eight months in prison by a U.S. District Court in Massachusetts. The dual Russian-Portuguese citizen pleaded guilty to wire fraud and market manipulation charges tied to a multi-year wash trading scheme that artificially inflated cryptocurrency trading volumes.

Prosecutors revealed Gotbit executed millions in fraudulent trades between 2018-2024 while masquerading as a legitimate market maker. The case marks another victory for the DOJ''s intensified crackdown on crypto market abuses. Andriunin''s arrest in Portugal and subsequent extradition demonstrates the global reach of U.S. financial regulators.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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