Aleksei Andriunin, a Russian national, has been extradited from Portugal to the United States for allegedly manipulating cryptocurrency markets on behalf of client companies.

Andriunin, 26, was arrested in Portugal on October 8, 2024, and extradited to the United States on February 25, 2025. He appeared in federal court in Boston, where he remains in custody awaiting a hearing. Indicted on October 31, 2024, he faces charges of wire fraud and conspiracy to commit market manipulation and wire fraud. The indictment also includes "Gotbit" and its two directors, Fedor Kedrov and Qawi Jalili.

Court documents allege that Gotbit operated as a "market maker" between 2018 and 2024, providing market manipulation services to inflate trading volumes for cryptocurrency companies, including those in the U.S. Andriunin, Gotbit’s founder and CEO, allegedly developed a system to "wash trade" cryptocurrencies, securing listings on CoinMarketCap and major exchanges.

Prosecutors claim Andriunin and Gotbit employees, including Jalili (Director of Sales) and Kedrov (Director of Market Making), marketed these tactics to clients, using multiple accounts to hide wash trades. Gotbit allegedly conducted fraudulent trades worth millions and earned tens of millions in proceeds, with Andriunin transferring substantial amounts to his personal Binance account.

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If proven guilty, Andriunin could face charges of wire fraud and conspiracy to commit market manipulation and wire fraud. Wire fraud carries a maximum penalty of 20 years in prison, three years of supervised release, and a fine of up to $250,000 or twice the financial gain or loss. The conspiracy charge carries up to five years in prison and similar penalties. Sentencing will be determined according to U.S. Sentencing Guidelines