On June 13, according to The Block, Gotbit founder and CEO Aleksei Andriunin was sentenced to 8 months in prison by the Massachusetts local court this Friday for manipulating the crypto market and creating millions of dollars in fake trading volume, followed by a one-year supervised release after serving his sentence.
The prosecution pointed out that Andriunin and the Gotbit team provided fake trading volume services for multiple crypto projects between 2018 and 2024, fabricating on-chain activity through code and multiple account operations to help projects appear on CoinMarketCap and attract listings on major trading platforms. Gotbit received tens of millions of dollars in compensation as a result. Additionally, Gotbit was sentenced to 5 years of probation, during which it is prohibited from continuing to operate related businesses. The prosecution stated that Andriunin was arrested in Portugal in October 2024, extradited to the United States in February 2025, and signed a plea agreement in March of this year.
