Gotbit Founder Reaches Plea Deal in Crypto Manipulation Case

Aleksei Andriunin, the CEO of Gotbit, a cryptocurrency market-making platform, has reached a plea agreement with U.S. authorities after being accused of manipulating cryptocurrency markets.

According to the deal, Andriunin, a Russian national, will forfeit approximately $23 million in stablecoins, including Tether (USDT) and USD Coin (USDC), to Massachusetts federal prosecutors.

This agreement comes after Andriunin faced charges of conspiracy, wire fraud, and market manipulation. The legal settlement, signed on March 19, requires Andriunin to plead guilty to these charges.

However, the forfeiture of assets does not cover additional fines or penalties he may face, nor does it influence any restitution or other legal obligations. Furthermore, the deal, while binding between Andriunin and federal prosecutors, does not involve other authorities or agencies.

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Andriunin’s extradition to the U.S. in October 2024, following his arrest in Portugal, marked a key development in the case. Since his arrival in Boston, Andriunin has been detained as he faces serious allegations related to his platform, Gotbit. \The platform is accused of orchestrating an extensive cryptocurrency market manipulation scheme, which took place between 2017 and 2024. Based in Belize, Gotbit allegedly provided false trading volumes for several global companies, including some in the United States.

Alongside Andriunin, several Gotbit employees, such as marketing director Fedor Kedrov and sales director Qawi Jalili, are also under investigation. Despite the assets mentioned in the plea agreement being controlled by Andriunin, they technically belong to Gotbit, further complicating the legal landscape surrounding the case.

Alexander Stefanov