ChainCatcher news, according to The Block, on June 13, the U.S. District Court in Massachusetts ruled against Aleksei Andriunin, the founder of cryptocurrency market maker Gotbit, finding him guilty of wire fraud and market manipulation, sentencing him to 8 months in prison and 1 year of supervised release. The court also sentenced Gotbit to 5 years of probation, during which it is prohibited from conducting business.It is reported that 26-year-old Andriunin was arrested in Portugal in October 2024 and extradited to the U.S. in February this year. Prosecutors accused him of engaging in market manipulation activities, such as "wash trading," by creating false trading codes and manipulating multiple accounts, with the amount involved reaching tens of millions of dollars. As a market maker, Gotbit is suspected of artificially creating trading volume to get tokens listed on mainstream exchanges.

ChainCatcher news, according to CoinDesk, the U.S. Department of Justice (DOJ) announced that Gotbit founder, 26-year-old Russian citizen Aleksei Andriunin, has been extradited from Portugal to the United States, facing charges of market manipulation and telecommunications fraud, with a maximum sentence of 25 years in prison.Andriunin was arrested in Portugal in October 2024 and was indicted by a Boston grand jury. The charges allege that from 2018 to 2024, Gotbit provided "market manipulation services" for cryptocurrency companies, helping clients inflate token trading volumes to raise prices, including for U.S. companies.Department of Justice documents indicate that Gotbit profited tens of millions of dollars from this business, and Andriunin personally transferred millions of dollars into his Binance account. He made his initial court appearance in Boston on Tuesday, with subsequent hearing dates yet to be determined.