{"id":141209,"date":"2024-11-02T09:00:49","date_gmt":"2024-11-02T07:00:49","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141209"},"modified":"2024-11-01T19:05:34","modified_gmt":"2024-11-01T17:05:34","slug":"crypto-company-ceo-charged-with-fraud-and-market-manipulation","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/crypto-company-ceo-charged-with-fraud-and-market-manipulation\/","title":{"rendered":"Crypto Company CEO Charged with Fraud and Market Manipulation"},"content":{"rendered":"<p>Andriunin, along with his partners Fedor Kedrov and Qawi Jalili, faces allegations that they manipulated cryptocurrency trading volumes to secure listings on CoinMarketCap and exchanges, stretching back from 2018 until 2024.<\/p>\n<p>Federal prosecutors <strong><a href=\"https:\/\/www.justice.gov\/usao-ma\/pr\/founder-cryptocurrency-financial-services-firm-gotbit-indicted-market-manipulation-and\" target=\"_blank\" rel=\"nofollow\">claim<\/a> <\/strong>Gotbit used \u201cwash trading\u201d to artificially inflate the activity levels of certain tokens, earning millions in fees for these services. The earnings were allegedly funneled into Andriunin\u2019s Binance account.<\/p>\n<p>Among Gotbit\u2019s clients were meme coins like Robo Inu and Saitama, whose leadership was also implicated in a prior indictment from October 9. This broader investigation, which named multiple crypto firms, has so far led to four arrests, several plea deals, and the seizure of over $25 million in digital assets.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/cardano-primed-for-a-major-upsurge-as-analyst-predicts-significant-price-movement\/\" title=\"Cardano Primed for a Major Upsurge as Analyst Predicts Significant Price Movement\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/cardano-7-big-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Cardano Primed for a Major Upsurge as Analyst Predicts Significant Price Movement<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Prosecutors emphasize that market manipulation tactics, such as wash trading, have been illegal in traditional finance and apply equally to cryptocurrency.<\/p>\n<p>Acting U.S. Attorney Joshua Levy noted the DOJ\u2019s ongoing commitment to prosecuting fraudulent schemes in emerging technology. Andriunin, if convicted, could face up to 20 years in prison for wire fraud, with conspiracy charges carrying additional potential sentences.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Department of Justice (DOJ) has brought wire fraud and market manipulation charges against Aleksei Andriunin, the founder and CEO of crypto market-making firm Gotbit.<\/p>\n","protected":false},"author":7,"featured_media":25644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-141209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Company CEO Charged with Fraud and Market Manipulation<\/title>\n<meta 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