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

*Author: Bankless*
*Published: Mar 20, 2025*
*Source: https://www.bankless.com/read/gotbit-founder-aleksei-andriunin-pleads-guilty-to-wire-fraud-market-manipulation*

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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.