Gotbit (crypto market manipulation)
A prominent crypto 'market maker' that the U.S. DOJ says ran wash-trading/market-manipulation services (2018–2024) to fake trading volume for token clients (including Saitama and Robo Inu) and win exchange listings. Charged in the FBI's 'Operation Token Mirrors'; founder Aleksei Andriunin pleaded guilty in 2025 and Gotbit forfeited $23M.
Also known as: Gotbit, Gotbit Consulting
Summary
Gotbit was a crypto "market maker" that, per the U.S. DOJ, provided market-manipulation services from 2018 to 2024 — using coded software and many controlled accounts to "wash trade" and artificially inflate the price and volume of clients' tokens so they could get listed on platforms like CoinMarketCap and larger exchanges. Clients named by prosecutors included Robo Inu and Saitama. [1][2]
Charges and outcome
Gotbit and its founder were among 15 people and three firms charged in October 2024 in "Operation Token Mirrors" — a novel FBI operation that created its own token (NexFundAI) to catch crypto market manipulators. Founder Aleksei Andriunin was arrested in Portugal (October 2024), extradited, and pleaded guilty in March 2025 to conspiracy to commit market manipulation and wire fraud. In June 2025 he was sentenced to eight months (time served) and faced deportation; Gotbit forfeited about $23 million and ceased operations. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (2)
- Gotbit Founder Sentenced for Crypto Wash Trading — Decrypt
- USA v. Gotbit — Plea Agreement — U.S. DOJ
See also
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Dropil (DROP)TokensAn ICO for the DROP token built around a fake 'Dex' trading bot. The SEC said it raised ~$1.9M while claiming $54M from 34,000 investors, and that the founders falsified evidence during the probe. Founders Jeremy McAlpine and Zachary Matar pleaded guilty to securities fraud (36 and 30 months).
- Veritaseum (VERI)Tokens
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