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Here's a twist — Gotbit founder Alexey Andryunin sentenced to 8 months
I just found out that 26-year-old Alexey Andryunin received a real prison sentence from an American court. It turns out his platform Gotbit was involved in fake trading worth millions of dollars. The guy is a citizen of Russia and Portugal, and he was arrested in Portugal back in October 2024, then extradited to the U.S.
The most interesting part — in a 2019 interview, Andryunin explained how he created code to artificially inflate trading volumes. Gotbit employees actively sold this scheme to clients, explaining how to use multiple accounts to hide manipulations on the blockchain. As a result, the platform received tens of millions from clients for conducting such trades.
In March of this year, Alexey Andryunin pleaded guilty to charges of fraud and market manipulation. Gotbit itself will now be unable to operate for five years. Such is the ending for this project.