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Gotbit Founder Pleads Guilty to Wire Fraud, Forfeits $23M

Alex Andryunin, founder of Gotbit, pled guilty to wire fraud and market manipulation.
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Mar 20, 2025 • 1 min read

Gotbit founder Alex Andryunin has pleaded guilty to wire fraud and market manipulation, agreeing to serve up to 24 months and forfeit $23 million. His crypto firm used illegal tactics to inflate token prices for paying clients.

What’s the Scoop?

  • Plea Deal: Alex Andryunin, founder of Gotbit, struck a plea deal and agreed to serve no more than 24 months in prison for market manipulation and wire fraud.
  • Guilty Plea and Forfeitures: The 26-year-old pleaded guilty to two counts of wire fraud and one count of conspiracy, forfeiting $23 million in stablecoins tied to the crimes.
  • Market Manipulator-for-Hire: Andryunin admitted to using bot trading and wash trading services to artificially inflate trading volumes of crypto tokens for paying clients.

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