Aleksei Andriunin, a Russian citizen, has reportedly entered into a plea agreement with U.S. prosecutors concerning allegations of cryptocurrency manipulation via the Gotbit market-making platform.
As per the agreement, Andriunin, who is the founder and CEO of Gotbit, has consented to forfeit approximately $23 million in Tether’s USDt and Circle’s USDC to federal prosecutors in Massachusetts, as reported on March 19.
In conjunction with this plea, Andriunin will admit guilt to three charges relating to conspiracy involving wire fraud and market manipulation, according to a letter he signed on March 19.
An excerpt from legal documents regarding the Gotbit founder’s case tied to the $23 million forfeiture as part of the plea agreement with Massachusetts prosecutors.
The letter specifies that Andriunin acknowledges that the forfeiture does not alleviate or diminish any fines, penalties, restitution, imprisonment costs, tax obligations, or other debts owed to the United States.
The agreement is not binding on the U.S. Attorney General
In her communication with Andriunin, Leah Foley, the U.S. Attorney for the District of Massachusetts, emphasized that the forfeiture of $23 million pertains solely to Andriunin and her office.
“This does not obligate the Attorney General of the United States or any other local, state, or federal prosecuting authorities,” the letter states.
Furthermore, the letter clarifies that the court is under no obligation to adhere to the sentencing calculations proposed in the guidelines by the Massachusetts attorney.
An excerpt from legal correspondence related to sentencing guidelines in the Gotbit founder’s case.
“The defendant cannot withdraw the guilty plea if they disagree with the court’s interpretations of the guidelines or the imposed sentence,” attorney Foley noted.
Andriunin was extradited to the U.S. in October 2024
The arrangement with Massachusetts prosecutors was finalized months after Andriunin was extradited to the United States in October 2024, following his arrest by authorities in Portugal.
Post-extradition, Andriunin faced a federal court in Boston, Massachusetts, where he was ordered to remain in custody until further notice.
At 26 years old, he faced charges of wire fraud and conspiracy to commit market manipulation and wire fraud through a revised indictment in October 2024.
Source: Legal proceedings related to the indictment of the Gotbit founder for market manipulation.
Documents from the Massachusetts court reveal that Gotbit was engaged in a large-scale scheme to manipulate the cryptocurrency market, operating as a market maker registered in Belize from 2017 to 2024 and providing artificial trading volumes for firms worldwide, including those in the U.S.
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The criminal complaint filed by Massachusetts authorities in September 2024 also implicated other Gotbit personnel, including marketing director Fedor Kedrov and sales director Qawi Jalili, both residing in Russia.
In the plea correspondence, attorney Foley noted that the assets outlined in the forfeiture section of the agreement are controlled solely by Andriunin on behalf of Gotbit, even though they technically belong to the company.
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