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Gotbit founder Alex Andryunin has pleaded guilty to wire fraud and market manipulation, agreeing to serve up to 24 months and forfeit $23 million. His crypto firm used illegal tactics to inflate token prices for paying clients.
What’s the Scoop?
- Plea Deal: Alex Andryunin, founder of Gotbit, struck a plea deal and agreed to serve no more than 24 months in prison for market manipulation and wire fraud.
- Guilty Plea and Forfeitures: The 26-year-old pleaded guilty to two counts of wire fraud and one count of conspiracy, forfeiting $23 million in stablecoins tied to the crimes.
- Market Manipulator-for-Hire: Andryunin admitted to using bot trading and wash trading services to artificially inflate trading volumes of crypto tokens for paying clients.
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