Gotbit Founder Extradited to US Faces Market Manipulation Charges
Gotbit founder Aleksei Andriunin has been extradited to the United States facing market manipulation and fraud conspiracy charges. He allegedly manipulated crypto markets for clients between 2018 and 2024.
Case Overview
- Arrested in Portugal on October 8, 2024; extradited on February 25, 2025.
- Charges include market manipulation and wire fraud.
- Gotbit is accused of inflating trading volumes to push token prices.
- Andriunin allegedly received tens of millions in compensation.
- Indicted alongside two directors, Fedor Kedrov and Qawi Jalili.
Potential Penalties
- Up to 20 years in prison for wire fraud.
- Possible fines up to $250,000 or double the gross gain/loss.
- Restitution and forfeiture may also be imposed.
Related Incidents
- Blockchain startup Chain faced accusations of market manipulation by Tron founder Justin Sun.
- Allegations involved high leverage contracts harming crypto exchange users.
Regulatory Actions
- Authorities aim to protect investors from crypto market volatility.
- Spanish law enforcement partnered with blockchain firms against financial crypto crime.
- Binance defended itself against market manipulation claims related to Gotbit.