Fraud Charges for Gotbit and Other Companies in Crypto Manipulation

user avatar

by Giorgi Kostiuk

2 years ago

Recently, federal prosecutors have charged three cryptocurrency firms and 15 individuals, unveiling significant market manipulation.

Companies Involved in Manipulation

The firms Gotbit, ZM Quant, and CLS Global were involved in the scheme by employing fictitious trading strategies to inflate crypto token values. This manipulation gave investors the false impression of sustainable demand.

Case Details

Gotbit, an AR app developed by Aleksei Andriunin, played a key role in the operation. Andriunin was arrested in Portugal, and two other staff members, Fedor Kedrov and Qawi Jalili from Russia, were also charged.

Authorities' Actions

FBI's operation included the creation of the token NexFundAI to monitor manipulations. Before any harm could come to retail investors, token trading was disabled.

The case highlighted the complexities and urgency of tackling cryptocurrency market manipulations and the need for stringent oversight of such operations.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Kalshi Ordered to Cease Most Operations in Washington

chest

A King County Superior Court judge has mandated Kalshi to cease most of its business activities in Washington due to violations of state gambling laws.

user avatarElias Mukuru

Potential Peace Deal Between US and Iran Could Boost Markets

chest

Potential peace deal between the US and Iran could boost markets by elevating investor sentiment and reducing inflation.

user avatarDiego Alvarez

Cryptocurrency Market Remains Stable Amid Inflation Changes

chest

The cryptocurrency market remains stable despite falling inflation numbers, with Bitcoin trading around $63,000.

user avatarMaria Fernandez

Asian and US Stock Markets React to Falling Inflation

chest

Asian stock markets showed relief on August 14, 2026, with the US stock market following suit in premarket hours as investors reacted positively to the dip in inflation numbers.

user avatarKenji Takahashi

US Inflation Rates Show Slight Decrease in July 2026

chest

US inflation numbers cooled slightly in July 2026, with the Consumer Price Index dropping, although prices remain higher than pre-US-Iran conflict levels.

user avatarGustavo Mendoza

OpenAI Launches GPT56 Sol Ultrafast, Boosting AI Speed and Efficiency

chest

OpenAI has launched a limited preview of GPT56 Sol Ultrafast, a new service tier that significantly increases the speed of its AI model.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.