Gotbit Founder Sentenced for $23 Million Crypto Wash Trading Scheme

Aleksei Andriunin, founder and CEO of crypto market maker Gotbit, has been sentenced to eight months in prison for orchestrating a multi-million dollar wash trading scheme that artificially inflated cryptocurrency trading volumes. The US District Court in Boston imposed the sentence following Andriunin’s guilty plea in March 2025 for wire fraud and conspiracy to commit market manipulation.