Founder and CEO of crypto market maker Gotbit Alexei Andriunin was sentenced to eight months in prison for his involvement in a multi-million-dollar trading manipulation scheme.
Andriunin's Sentencing and Case Background
The sentencing was handed down by U.S. District Court Judge Angel Kelley in Boston. Andriunin pled guilty in March 2025 to charges of wire fraud and conspiracy to commit market manipulation.
Gotbit's Activities and Manipulations
According to prosecutors, Gotbit provided services for wash trading between 2018 and 2024, manipulating trading volumes to help client tokens appear more active and gain listings on exchanges and CoinMarketCap.
Consequences and Further Actions
Gotbit Consulting LLC was also sentenced to five years' probation and is required to cease operations. Andriunin will also serve one year of supervised release and is barred from crypto-related activity during that period.
The key outcomes of this case involve the conviction of the company's founder and the imposition of penalties on Gotbit, underscoring authorities' efforts to combat market manipulations in the cryptocurrency sector.
