TechFlow news, on June 13, according to The Block, Aleksei Andriunin (26), Russian and Portuguese national, founder and CEO of Gotbit, was sentenced on June 13, 2025, by the U.S. District Court in Massachusetts to eight months in prison followed by one year of supervised release for conducting millions of dollars worth of cryptocurrency wash trading. Andriunin was arrested in Portugal in October 2024 and extradited to the United States in February 2025. Meanwhile, his company Gotbit was placed on five years of probation, during which it must cease all business operations.
According to prosecutors, from 2018 to 2024, Gotbit provided market manipulation services to multiple cryptocurrency firms, generating tens of millions of dollars in revenue by artificially inflating trading volumes to help clients list their tokens on CoinMarketCap and major exchanges.
