Joshua S. Levy, U.S. Attorney | U.S. Attorney for the District of Massachusetts
A Russian national, Aleksei Andriunin, has been extradited from Portugal to the United States to face charges related to an alleged conspiracy to manipulate cryptocurrency markets. The 26-year-old was arrested in Portugal on October 8, 2024, and arrived in the U.S. on February 25, 2025. He appeared in a federal court in Boston where he was ordered detained pending a future hearing.
Andriunin, along with Gotbit and two of its directors, Fedor Kedrov and Qawi Jalili, was indicted by a federal grand jury on October 31, 2024. The charges include wire fraud and conspiracy to commit market manipulation and wire fraud.
Gotbit is known as a "market maker" within the cryptocurrency sector. Allegations state that between 2018 and 2024, Gotbit engaged in activities designed to artificially boost trading volumes for several cryptocurrency companies, including those based in the U.S. Andriunin is said to have been Gotbit's Founder and CEO.
In a past interview from 2019, Andriunin allegedly explained his method for "wash trading" cryptocurrencies—an act intended to inflate trading volume artificially so that these cryptocurrencies could be listed on platforms like CoinMarketCap and traded on major exchanges. Both Jalili (Director of Sales) and Kedrov (Director of Market Making) are accused of promoting these tactics to potential clients while detailing how they avoided detection through multiple accounts.
The fraudulent trades reportedly amounted to millions of dollars with Gotbit receiving tens of millions as proceeds. It is further alleged that Andriunin transferred significant sums into his personal Binance account.
If convicted of wire fraud, penalties could include up to 20 years imprisonment, supervised release for three years, fines up to $250,000 or twice the gross gain or loss from the offense, restitution, and forfeiture. For conspiracy charges related to market manipulation and wire fraud, potential sentences could reach five years imprisonment alongside similar financial penalties.
The announcement came from United States Attorney Leah B. Foley alongside Jodi Cohen from the FBI's Boston Division. Support during this process was provided by various international law enforcement agencies including Portugal’s Policia Judiciaria European Network of Fugitive Active Search Team (ENFAST). The Justice Department’s Office of International Affairs worked closely with Portuguese authorities for Andriunin's arrest and extradition.
Assistant U.S. Attorneys Christopher J. Markham and David M. Holcomb are leading the prosecution under the Securities, Financial & Cyber Fraud Unit.
It should be noted that all details mentioned within charging documents remain allegations until proven otherwise beyond reasonable doubt in court proceedings.
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