Alexi Andrinin, the founder and chief executive officer of the Crypto platform Gotbit, has been extradited to the United States.
US Attorney Office for Massachusetts district Announced On 26 February that Russian National, arrested in Portugal in October 2024, will face allegations of manipulation and wire fraud in the market.
The Department of Justice alleges that Andrinin has been engaged in wash trading by inflating the cryptocurrency trading volume on behalf of many firms. Other companies trapped in market manipulation in 2024 include ZM Quant, CLS Global and MyTrade.
Prosecution and extradition
Federal prosecutors convicted Andrinin in late October 2024.
According to the DOJ press release, the 26 -year -old was extradited in the US on 25 February 2025. He will remain in custody.
A federal jury convicted Andrinin on 31 October 2024, in which allegations were also filed against Gotbit directors Fedor Kedrov and Kavi Jalili.
Prosecutors allege that Gotbit offered manipulation of several crypto institutions between 2018 and 2024, which led to artificial trading versions for cryptocurrency companies, including something in the United States.
Andrinin allegedly described a wash trading code that he developed during an interview in 2019. The code enabled Gotbit to artificially enhance trading volumes, helping to gain visibility on coinmarketcap and major exchanges.
DOJ alleged that Gotbit received millions of dollars from these fraud activities, in which Andrinin transferred the share of income to an individual bennen account.
If convicted, Andrinin has to face up to 20 years of manipulation and wire fraud in the market for wire fraud. He also pays a fine of $ 250,000 or twice gross profit from fraud activities.
