This is one of the reasons why there will be no more alt seasons! Without manipulation, altcoins will be quite calm and low-profit.

This case highlights the ongoing pursuit of unethical practices in cryptocurrency markets, emphasizing the need for transparency. The ruling may prevent similar activities by encouraging companies to review compliance procedures.

Details of the ruling
Gotbit Consulting LLC, a crypto marketing maker, and its CEO Alexey Andryunin were convicted of market manipulation from 2018 to 2024. The firm engaged in fictitious trading aimed at artificially inflating asset volumes. 'The firm offered algorithmic fictitious trading to artificially inflate trading volumes and prices of various tokens on behalf of clients from 2018 to 2024,' noted Alexey Andryunin, CEO of Gotbit Consulting LLC. Andryunin, who holds dual citizenship in Russia and Portugal, pleaded guilty and was sentenced to 8 months in prison. The court ordered the confiscation of $23 million, reflecting the proceeds from illegal activities.