U.S. Department of Justice: Four crypto market-making firms, including Gotbit, and some of their executives and employees have been indicted for alleged wash trading.

MeNews · 2026-04-05T20:51:55+00:00

The U.S. Department of Justice has charged 10 executives of cryptocurrency market-making firms with allegedly manipulating token trading volume and prices through wash trading. Three defendants have been extradited to the United States, with two pleading guilty and receiving sentences. The FBI and IRS, in their operation, created a token disclosure industry to expose illegal activities, seizing assets worth over $1 million.

MeNews

2026-04-05 20:51:55

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ME News news, on April 1 (UTC+8), the U.S. Department of Justice’s Northern District of California U.S. Attorney’s Office announced that 10 executives and employees from four crypto market-making firms have been indicted for allegedly artificially boosting a token’s trading volume and price through wash trading, involving Gotbit, Vortex, Antier, and Contrarian. Of the defendants, 3 have already been extradited from Singapore to the United States, and 2 others have pleaded guilty and been sentenced. In an undercover operation, the FBI and the Criminal Investigation Division of the IRS even created multiple crypto tokens themselves to investigate illegal volume-faking and pump-and-dump activities in the industry. More than $1 million in crypto assets have already been seized. (Source: ChainCatcher)

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