Aleksei Andriunin has been sentenced by a U.S. District Court to 8 months in prison following his guilty plea for wire fraud and market manipulation, linked to extensive wash trading from 2018 to 2024.
The illegal wash trading scheme orchestrated by Gotbit involved millions of dollars in transactions, misleading investors about cryptocurrency market activity and generated profits for developers.
In addition to Andriunin’s sentence, Gotbit is placed on five years’ probation, prohibiting operations during this period, highlighting the scrutiny placed on cryptocurrency market practices.
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