In brief
- Gotbit Consulting LLC and its founder, Aleksei Andriunin, were sentenced for using wash trading to manipulate crypto markets.
- The firm created fake trading volume to boost client tokens’ visibility, earning millions in the process.
- The DOJ said Gotbit is the third crypto market maker convicted in a broader federal crackdown on digital asset fraud.
Crypto market maker Gotbit and its founder were sentenced Friday for using wash trading to falsely inflate the trading volume of meme coins on behalf of clients.
Massachusetts U.S. District Court Judge Angel Kelley ordered Gotbit Consulting LLC to forfeit $23 million in seized cryptocurrency, with founder Aleksei Andriunin sentenced to eight months in prison and one year of supervised…
Jun 14 2025
