Archive · 13 Jun 2025
Crypto Firm Founder Avoids Further US Prison Time for Fraud
Aleksei Andriunin, the person who started Gotbit, a cryptocurrency company, has avoided spending more time in a U.S. prison.
He was found guilty of market manipulation and fraud related to digital money.
His company, Gotbit, made fake trades to make it seem like more people were buying and selling certain cryptocurrencies than actually were.
This helped clients increase the perceived value of their tokens.
Although prosecutors wanted a longer sentence, he was credited for the time he already served after being caught in Portugal.
Andriunin will now be sent back to his home country, and Gotbit has to give up $23 million worth of cryptocurrency as part of a plea deal.
The case was part of a larger investigation by the FBI into crypto fraud.
Founder of Gotbit, Aleksei Andriunin, avoids additional U.S. prison time.
Andriunin was sentenced to eight months, time served, for market manipulation and wire fraud.
Gotbit engaged in 'wash trading' to inflate trading volume for crypto clients from 2018-2024.
Andriunin faces deportation; Gotbit must forfeit $23 million in cryptocurrency.
The case was part of the 'Operation Token Mirrors' investigation by the FBI.
- Who
- Aleksei Andriunin, founder of Gotbit, and the cryptocurrency company Gotbit.
- What
- Aleksei Andriunin, founder of Gotbit, avoided further prison time after pleading guilty to market manipulation and wire fraud.
- When
- Andriunin was sentenced on Thursday.
- Where
- U.S. District Court in Boston.
- Why
- Andriunin and Gotbit were charged for manipulating the market for digital tokens on behalf of their clients.
Prosecutors
Defense
Sentencing
Prosecutors
Argued for a 15-month prison sentence.
Defense
The judge sentenced him to time served.
- Defendant
- Aleksei Andriunin
- Company
- Gotbit
- Charges
- Market manipulation and wire fraud
- Sentence
- Eight months, time served
- Forfeiture
- $23 million in cryptocurrency
- Investigation
- Operation Token Mirrors
- Deportation
- Andriunin faces deportation