Gotbit founder Aleksei Andriunin extradited to the U.S. for crypto fraud, facing charges of market manipulation, wire fraud, and conspiracy.
Aleksei Andriunin, the founder and CEO of cryptocurrency firm Gotbit, has been extradited to the United States on charges of market manipulation. The authorities arrested him in Portugal during October 2024 which led to wire fraud and conspiracy charges against him. The authorities maintain that his use of wash trading techniques increased trading volumes through methods that allowed companies to control market conditions.
The Russian national turned 26 years old at the time agents extradited him to the United States on February 25, 2025. Court authorities in Boston denied him bail before setting new hearing dates during which his detention would continue. The federal grand jury approved his indictment together with Gotbit directors Fedor Kedrov and Qawi Jalili on October 31, 2024.
Supplemental court records identify Gotbit as an entity which functioned as a “market maker” in the cryptocurrency market. Between 2018 and 2024, Andriunin as CEO of Gotbit provided trading volume manipulation services to various cryptocurrency businesses in the United States and elsewhere.
Gotbit Founder Engineered Fake Trades to Manipulate Crypto Markets
Andriunin revealed to media outlets in a 2019 interview that he had engineered a washing code to trade (fake) for clients. The artificial trading volume manipulation methods enabled digital currencies to secure positions on CoinMarketCap and bigger cryptocurrency trading platforms. The prosecutors show evidence that Jalili and Kedrov as well as Gotbit personnel, supplied fraudulent trading techniques to clients while maintaining multiple trading accounts to avoid detection.
Fraudulent trading worth millions and yielding tens of millions of profits was allegedly executed by this firm. The prosecutors state that Andriunin placed significant money into his Binance account for personal use.
The defendant will experience major legal consequences from his forthcoming conviction. The penalty for wire fraud includes up to twenty years of imprisonment, together with monetary fines and asset forfeiture. Through the addition of the conspiracy charge, he could face imprisonment for another five years. The court’s deciding authority will determine the complete punishment according to U.S. sentencing regulations. This case highlights the ongoing crackdown on market manipulation in the cryptocurrency industry.
