A Russian national accused of cryptocurrency market manipulation has been extradited to the United States to face federal charges. Aleksei Andriunin, the Gotbit Founder, appeared in a Boston court following his extradition from Portugal, where he had been residing.

Gotbit Founder Extradited to US Over Crypto Fraud

Gotbit Founder Andriunin, 26, was arrested in Portugal on October 8, 2024, following an indictment by a federal grand jury in Boston. He was extradited to the United States on February 25, 2025, and appeared in court the following day. A judge ordered his detention while awaiting further proceedings.

The U.S. Attorney’s Office in Massachusetts announced his extradition, stating that the Gotbit founder faces charges of wire fraud and conspiracy to commit market manipulation and wire fraud. Prosecutors allege that Andriunin led a scheme that manipulated cryptocurrency markets and generated millions in fraudulent proceeds.

Court documents state that between 2018 and 2024, Andriunin and his company, Gotbit, provided market manipulation services to cryptocurrency firms. Gotbit allegedly engaged in “wash trading,” which involves artificially inflating trading volume to make digital tokens appear more valuable.

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The post Just In: Gotbit Founder Extradited to US Over Crypto Market Manipulation Fraud appeared first on CoinGape.

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Filed under: News - @ February 26, 2025 8:18 pm