Crypto Trading Manipulation: Aleksei Andriunin Sentenced for Market Manipulation

Aleksei Andriunin, CEO of Gotbit Consulting, has been sentenced to eight months in prison for engaging in market manipulation of cryptocurrency exchanges from 2018 to 2024. Authorities have found evidence of algorithmic wash trading conducted by Gotbit, resulting in significant financial penalties. Gotbit was ordered to forfeit $23 million and is now officially shut down. These actions demonstrate a commitment to combating fraudulent practices within the crypto market. The case signifies continued efforts by regulatory bodies to maintain transparency and deter market manipulation.