Aleksei Andriunin, founder and CEO of the Gotbit market-making platform, has agreed to forfeit approximately $23 million in Tether (USDT) and USD Coin (USDC) as part of a plea agreement with U.S. federal prosecutors in Massachusetts. The Russian national will plead guilty to three counts of conspiracy to commit wire fraud and market manipulation, according to court documents dated March 19 and first reported by Law360.
The agreement, signed by Andriunin, specifies that the forfeiture does not absolve him of other potential penalties, including imprisonment, fines, or restitution. U.S. Attorney Leah Foley emphasized that the plea deal binds only her office and not other federal, state, or local prosecuting agencies. The court also retains discretion in sentencing, and Andriunin cannot withdraw his guilty plea based on how the court interprets sentencing guidelines.
Andriunin, 26, was extradited to the United States from Portugal in October 2024 and has since remained in detention following a court appearance in Boston. He was charged under a superseding indictment with wire fraud and conspiracy related to an extensive market manipulation scheme allegedly conducted through Gotbit.
Court filings allege that Gotbit, registered in Belize, functioned as a crypto market maker that artificially inflated trading volumes for multiple cryptocurrency firms globally — including U.S.-based entities — between 2017 and 2024. Prosecutors say the $23 million in forfeited crypto assets were under Andriunin’s sole control, despite their formal association with Gotbit.
Additional individuals named in the original September 2024 complaint include Gotbit marketing director Fedor Kedrov and sales director Qawi Jalili, both based in Russia. They have not been extradited or formally charged in the U.S. to date.
The case represents one of the most high-profile U.S. enforcement actions targeting market manipulation in the digital asset sector and could serve as a reference point for similar prosecutions in the future.