A significant cryptocurrency market manipulation case has unfolded. Aleksei Andriunin, founder of Gotbit, a cryptocurrency financial services firm, pleaded guilty to charges of market manipulation and wire fraud. This follows a major FBI investigation, 'Operation Token Mirrors,' which used a novel approach to uncover the scheme.
- Andriunin and Gotbit admitted to 'wash trading,' a deceptive practice to inflate trading volume.
- This involved artificially boosting the appearance of trading activity for various cryptocurrencies, including Saitama and Robo Inu.
- The scheme ran from 2018 to 2024, resulting in millions of dollars in illicit gains for Gotbit.
| Fact | Detail |
|---|---|
| Guilty Plea | Aleksei Andriunin and Gotbit |
| Sentencing | June 16th, up to 2 years prison for Andriunin |
| Forfeiture | ~$23 million in cryptocurrency by Gotbit |
| Investigation | FBI's 'Operation Token Mirrors' |
