Gotbit founder Aleksei Andriunin sentenced to 8 months in prison for crypto market manipulation

BlockBeats News: On June 13, according to a report by The Block, Gotbit founder and CEO Aleksei Andriunin was sentenced to 8 months in prison by the U.S. District Court for the District of Massachusetts this Friday for manipulating the crypto market and fabricating millions of dollars in fake trading volume. He will also be subjected to one year of supervised release post-incarceration.

Prosecutors stated that Andriunin and the Gotbit team provided services to fabricate fake trading volumes for multiple crypto projects between 2018 and 2024. By using code and multiple accounts, they simulated on-chain activity to help projects get listed on CoinMarketCap and attract listings on major exchanges. Gotbit reportedly earned tens of millions of dollars through these operations. Additionally, Gotbit was sentenced to 5 years of probation, during which the company is prohibited from continuing its related business activities. Prosecutors further revealed that Andriunin was arrested in Portugal in October 2024, extradited to the U.S. in February 2025, and signed a plea agreement in March this year.