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Aleksei Andriunin, founder of the crypto-exchange Gotbit, was extradited to the USA from Portugal and appeared before the federal court in Boston. For him, Gotbit, and two other of its directors, Fedor Kedrov and Qawi Jalili, the charge is market manipulation and fraudulent conspiracy.  Gotbit: the founder of the crypto-exchange is now on trial in the USA  Aleksei Andriunin, founder of the crypto-exchange Gotbit, was extradited to the USA last February 25, after being under arrest in Portugal since October 8, 2024.  Now, Andriunin appeared before the federal court in Boston and was ordered to be detained, pending the next hearing.  Thecharge against him, as well as Gotbit and its other two directors Fedor Kedrov and Qawi Jalili, is market manipulation and wire fraud.  This is a true associazione a delinquere that allegedly saw Andriunin, the 26-year-old Russian residing in Portugal, play a crucial role.  In fact, between 2018 and 2024, the well-known “market maker” of Gotbit allegedly provided market manipulation services to create artificial trading volume for various cryptocurrency companies, including those located in the United States.  In a 2019 interview with Andriuin, the CEO and founder of Gotbit described the way he developed a code for cryptocurrency “wash trade”. Essentially, this code artificially inflated the trading volume in order to get crypto listed on CoinMarketCap and traded on larger crypto-exchanges. Both Andriunin and Jalili (sales director of Gotbit) and Kedrov (market making director of Gotbit), allegedly marketed these wash trading tactics to potential clients.  In any case, Gotbit allegedly conducted wash trading operations worth millions of dollars on behalf of clients, and allegedly received tens of millions of dollars in proceeds related to these fraudulent services. Andriunin allegedly transferred millions of dollars of Gotbit’s proceeds to his personal Binance account. Gotbit: the founder of the crypto-exchange risks up…

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Filed under: News - @ February 27, 2025 10:26 am