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The founder of Gotbit, Aleksei Andriunin, has agreed to a plea deal with US prosecutors after being accused of manipulating cryptocurrency markets.
Under the agreement, he will forfeit approximately $23 million in Tether
$0.9961
and USD Coin
$0.9969
, according to a report from Law360 on March 19.
The plea deal includes Andriunin admitting guilt to three charges related to conspiracy to commit wire fraud and market manipulation. A signed letter from March 19 outlines these charges, confirming his acknowledgment of wrongdoing.
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In the agreement, Andriunin also accepts that forfeiting the funds does not clear any other penalties or debts he may owe to the US government. This includes fines, restitution, or any other financial obligations that could arise from the case.
A letter from the US Attorney for the District of Massachusetts, Leah Foley, further clarifies that this deal only applies to Andriunin and the prosecutors involved. It does not prevent other federal, state, or local authorities from taking action against him.
Additionally, the letter states that the court is not required to follow the sentencing recommendations set in the plea deal. Andriunin will not be able to withdraw his guilty plea if the final sentence differs from his expectations.
According to a February 26 statement from the US Attorney, Andriunin was arrested in Portugal on October 8, 2024, and extradited to the United States on February 25, 2025. How did the case unfold? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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