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A major scandal has emerged in the crypto world,
Gotbit's founder has fallen!
Gotbit's founder and CEO Aleksei Andriunin has been sentenced to 8 months in prison by the U.S. District Court in Massachusetts this Friday for manipulating the crypto market, conducting millions of dollars in wash trading, and will be subject to a year of supervised release after his sentence.
Prosecutors revealed that from 2018 to 2024, Andriunin and the Gotbit team provided many crypto projects with false trading volume creation services, using code and multiple accounts to fabricate on-chain activity, helping these projects get listed on CoinMarketCap and attracting major exchanges for listings. Through these operations, Gotbit earned tens of millions of dollars in compensation.
Moreover, Gotbit has also been sentenced to 5 years of probation during which it cannot continue to operate related businesses. It is reported that Andriunin was arrested in Portugal in October 2024, extradited to the U.S. in February 2025, and signed a plea agreement in March this year. What other unknown secrets lie behind this? Will the regulation in the crypto space become stricter? Let's dig deeper together!
