Gotbit Founder Pleads Guilty, Forfeits $23M in USDT, USDC
1min read Aleksei Andriunin, a Russian national and the founder of the Gotbit market maker platform, has reached a plea agreement with federal prosecutors in the United States. The deal involves Andriunin forfeiting approximately $23 million in Tether USDt (USDT) and Circle’s USDC (USDC). This agreement comes as part of a broader legal settlement where Andriunin will plead guilty to three counts of conspiracy to commit wire fraud and market manipulation.
The plea agreement, signed on March 19, outlines that Andriunin understands and agrees that the forfeiture of $23 million will not satisfy or affect any other debts or liabilities he owes to the United States. The agreement is specifically between Andriunin and the US Attorney for the District of Massachusetts, Leah Foley, and does not bind the Attorney General of the United States or any other federal, state, or local prosecuting authorities. The court is not required to follow the proposed sentencing guidelines from the Massachusetts attorney, and Andriunin cannot withdraw his guilty plea if he disagrees with the court's calculations or the imposed sentence.
Andriunin was extradited to the US in October 2024 after being arrested by Portuguese authorities. Since his extradition, he has appeared in a federal court in Boston, Massachusetts, where he was ordered to remain detained until further notice. Andriunin, 26, was charged with wire fraud and conspiracy to commit market manipulation and wire fraud in a superseding indictment in October 2024.
According to court documents, Gotbit was a cryptocurrency "market maker" that orchestrated a widespread market manipulation scheme. The platform, registered in Belize, provided artificial trading volume for global firms, including those in the US, between 2017 and 2024. The criminal complaint from Massachusetts authorities in September 2024 also involved other Gotbit employees, such as marketing director Fedor Kedrov and sales director Qawi Jalili, both living in Russia.
In the plea letter, Massachusetts attorney Foley mentioned that the assets listed in the forfeiture section of the Gotbit plea agreement are solely controlled by the defendant on Gotbit’s behalf, despite these assets belonging to Gotbit. This plea deal marks a significant development in the ongoing legal battle against cryptocurrency market manipulation and highlights the US government's commitment to holding individuals accountable for such activities.
