Yigit Taha OZTURK 
The founder of Gotbit, a well-known market maker in the crypto industry, is facing market manipulation and fraud charges in the US. Aleksei Andriunin was caught in an FBI operation and extradited from Portugal to the US. Here are the details!
US authorities revealed that Gotbit and its executives fell for the NexFundAI (NEXF) “trap token” created by the FBI to catch market manipulators. The company allegedly engaged in wash trading, artificially inflating the trading volume of crypto assets to help projects secure listings on platforms like CoinMarketCap.
Serious Allegations Against Gotbit Executives!
The US Department of Justice announced that a federal grand jury had indicted Gotbit founder Aleksei Andriunin, along with executives Fedor Kedrov and Qawi Jalili, on charges of market manipulation and fraud. Authorities claim that the executives earned tens of millions of dollars between 2018 and 2024 through these tactics.
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26-year-old Russian national Aleksei Andriunin is also accused by US officials of transferring part of these illegal proceeds to his personal Binance account. Authorities stated that Gotbit executives admitted to using these strategies in a 2019 interview.
Facing Up to 20 Years in Prison!
If convicted, Aleksei Andriunin could face up to 20 years in prison and a fine of up to $250,000. Additionally, he could be forced to forfeit assets and repay twice the amount of illicit gains.
The US Securities and Exchange Commission (SEC) also filed a fraud lawsuit against Gotbit and its executives in October 2024. These allegations further highlight the increasing scrutiny of the crypto industry by regulators.
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