Aleksei Andriunin, founder of Gotbit Consulting, has been sentenced for conducting a large-scale market manipulation operation in the cryptocurrency sector.
Gotbit's Violations
Gotbit Consulting, prominent in the cryptocurrency industry, manipulated trading volumes, creating false activity for tokens from 2018 to 2024. This allowed tokens like Robo Inu and Saitama to appear more attractive to potential investors and facilitated their listing on popular platforms like CoinMarketCap.
Judgment and Company Consequences
On June 12, 2025, a Boston federal court sentenced Andriunin to eight months in prison and a year of supervised release following his extradition from Portugal. Gotbit was ordered to cease operations for five years, and its assets worth $23 million were seized.
Regulatory Response and Market Future
This case is not isolated; it marks the third company penalized for market manipulation over the past year. The SEC has also filed a civil enforcement action against Gotbit, accusing the firm of violating securities laws.
The Gotbit case highlights the importance of regulating the cryptocurrency market and the real consequences of trading manipulations that can lead to serious legal repercussions.
