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{"actor":"system:backfill","investigation_id":"e4e6bafb-3cfa-4845-844f-394c61ef9671","kind":"publish","page_slug":"gotbit-consulting-llc","published_at":"2026-05-27T18:34:07.016Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Gotbit Consulting LLC","sections":[{"content":"On October 9, 2024, U.S. federal prosecutors in the District of Massachusetts unsealed an indictment charging Gotbit Consulting LLC and its founder Aleksei Andriunin with wire fraud, conspiracy to commit market manipulation and wire fraud, and conspiracy to commit money laundering. Co-directors Fedor Kedrov (Director of Market Making) and Qawi Jalili (Director of Sales) were also charged in the same indictment. Andriunin was arrested in Portugal on October 8, 2024, and extradited to the United States on February 25, 2025. In March 2025, both Andriunin and Gotbit pleaded guilty to wire fraud and conspiracy to commit market manipulation and wire fraud. On June 2025, U.S. District Court Judge Angel Kelley sentenced Andriunin to eight months in prison (credited as time served) followed by one year of supervised release. Gotbit was sentenced to five years of probation and ordered to cease operations permanently. The company and founder were jointly ordered to forfeit approximately $23 million in seized cryptocurrency. Separately, under Operation Token Mirrors — indictments filed in the Northern District of California — three additional Gotbit employees (Antoine Tsao, Ian Sofronov, and Nemanja Popov) were charged with wire fraud conspiracy. Tsao pleaded guilty on June 2, 2025; Popov pleaded guilty and was sentenced on February 10, 2026. Ian Sofronov's case status remained pending as of available reporting. Kedrov and Jalili remained at large as fugitives as of mid-2026.","heading":"Criminal Charges and Convictions","severity":"critical","sources":[{"credibility":1,"name":"DOJ USAO-MA: Gotbit and Founder Sentenced for Market Manipulation","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/cryptocurrency-financial-services-firm-gotbit-and-founder-sentenced-market-manipulation"},{"credibility":1,"name":"DOJ USAO-MA: Gotbit and Founder Plead Guilty","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/cryptocurrency-financial-services-firm-gotbit-and-founder-plead-guilty-market"},{"credibility":2,"name":"Decrypt: Gotbit Founder Sentenced to Prison for Crypto Wash Trading","type":"news_article","url":"https://decrypt.co/325111/gotbit-founder-sentenced-prison-crypto-wash-trading"},{"credibility":1,"name":"DOJ USAO-NDCA: Ten Foreign Nationals Charged in Operation Targeting Cryptocurrency Market Manipulation","type":"regulatory","url":"https://www.justice.gov/usao-ndca/pr/ten-foreign-nationals-charged-international-operation-targeting-cryptocurrency-market"},{"credibility":2,"name":"CoinDesk: Gotbit Founder Aleksei Andriunin Pleads Guilty to Wire Fraud, Market Manipulation","type":"news_article","url":"https://www.coindesk.com/policy/2025/03/20/gotbit-founder-aleksei-andriunin-pleads-guilty-to-wire-fraud-market-manipulation"}]},{"content":"Gotbit operated as a cryptocurrency 'market maker,' offering services to token issuers at a reported rate of approximately $5,000 per month. Between 2018 and 2024, the firm provided manipulation services to create artificial trading volume for numerous cryptocurrency companies, including entities in the United States and those whose tokens traded on platforms accessible to U.S. investors. The scheme involved executing repeated buy-and-sell transactions between wallets under Gotbit's control — a practice known as wash trading — to simulate organic market activity. According to blockchain analysis of 1,221 transactions cited in federal proceedings, 99% of the transactions traced back to Gotbit-controlled wallets, forming circular patterns with no legitimate economic purpose. The primary stated goal was to inflate trading volumes in order to secure listings on aggregator sites such as CoinMarketCap and gain access to larger cryptocurrency exchanges. In a 2019 interview that was cited in court proceedings, Andriunin described developing software to wash trade cryptocurrencies for listing purposes. Gotbit received tens of millions of dollars in aggregate payments from clients over the course of the scheme. Undercover FBI and IRS Criminal Investigation agents paid Gotbit $15,000 and sent 5 ETH to fund trading bots as part of the sting operation that contributed to the prosecution.","heading":"Business Model and Wash Trading Operations","severity":"critical","sources":[{"credibility":2,"name":"TRM Labs: Ten Fraudsters from Four Financial Services Firms Charged","type":"research","url":"https://www.trmlabs.com/resources/blog/ten-fraudsters-from-four-financial-services-firms-charged-in-different-cryptocurrency-market-manipulation-schemes-out-of-northern-district-of-california"},{"credibility":2,"name":"CCN: DOJ Charges 10 in Massive Crypto Wash Trading Scheme","type":"news_article","url":"https://www.ccn.com/news/crypto/doj-indicts-10-crypto-wash-trading-bots-market-manipulation/"},{"credibility":2,"name":"Decrypt: DOJ Alleges Gotbit Founder Made Tens of Millions on Wire Fraud","type":"news_article","url":"https://decrypt.co/289520/us-indicts-gotbit-founder-wire-fraud"},{"credibility":1,"name":"IRS Criminal Investigation: Ten Foreign Nationals Charged","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/ten-foreign-nationals-charged-in-an-international-operation-targeting-cryptocurrency-market-manipulation"}]},{"content":"Federal court filings identified multiple cryptocurrency tokens for which Gotbit allegedly provided wash trading services. Named tokens include Robo Inu, whose issuer allegedly paid Gotbit to artificially inflate trading volume on cryptocurrency exchanges including BitMart beginning around 2022, and Saitama, whose leadership allegedly paid multiple market makers including Gotbit and ZM Quant to wash trade on exchanges including BitMart, LBank, and XT.com. The leaders of both projects were separately charged in the October 2024 Massachusetts indictment. The DOJ characterized the broader scheme as causing investor losses in the United States and internationally, as retail investors purchased tokens at prices inflated by artificial volume. Investigators described these schemes as pump-and-dump operations in which market makers and token issuers sold holdings at manipulated prices to unwitting buyers.","heading":"Known Client Tokens and Investor Harm","severity":"critical","sources":[{"credibility":1,"name":"DOJ USAO-MA: Eighteen Individuals and Entities Charged in International Operation","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread"},{"credibility":2,"name":"TRM Labs: FBI Creates Token Project in Trojan Horse Crypto Operation","type":"research","url":"https://www.trmlabs.com/resources/blog/fbi-creates-token-project-in-trojan-horse-crypto-operation-that-seizes-25-million"},{"credibility":2,"name":"CoinDesk: Prosecutors Charge Four Crypto Market Makers with Market Manipulation","type":"news_article","url":"https://www.coindesk.com/policy/2024/10/09/prosecutors-charge-two-crypto-market-makers-employees-with-market-manipulation-fraud"}]},{"content":"Gotbit was ordered to forfeit approximately $23 million in seized cryptocurrency. Per reporting on the forfeiture breakdown, this included approximately $9 million in USDT (Tether), $4.2 million in USDC, $5 million in USDT from an additional wallet, and $4.7 million in USDT from a third wallet — all held in wallets assessed to be under Andriunin's sole control. Antoine Tsao separately forfeited 1.2 million USDT pursuant to a preliminary order of forfeiture entered June 3, 2025. The October 2024 broader Massachusetts enforcement action seized over $25 million in cryptocurrency across multiple defendants and entities.","heading":"Asset Forfeitures and Financial Penalties","severity":"high","sources":[{"credibility":2,"name":"Decrypt: Gotbit Founder Sentenced to Prison for Crypto Wash Trading","type":"news_article","url":"https://decrypt.co/325111/gotbit-founder-sentenced-prison-crypto-wash-trading"},{"credibility":2,"name":"Decrypt: Gotbit Founder Forfeits $23M in Crypto Market Manipulation Plea Deal","type":"news_article","url":"https://decrypt.co/310816/gotbit-founder-forfeits-23m-crypto-market-manipulation-plea-deal"},{"credibility":2,"name":"TRM Labs: FBI Creates Token Project in Trojan Horse Crypto Operation","type":"research","url":"https://www.trmlabs.com/resources/blog/fbi-creates-token-project-in-trojan-horse-crypto-operation-that-seizes-25-million"}]},{"content":"Gotbit's prosecution intersected with Operation Token Mirrors, an FBI and IRS Criminal Investigation undercover operation publicly announced on March 30, 2026, targeting cryptocurrency market manipulation across multiple firms. Under this operation, three indictments were unsealed in the Northern District of California charging ten foreign nationals from four market-making firms: Gotbit, Vortex, Antier Solutions, and Contrarian. The FBI created fictitious token projects to infiltrate wash trading networks and gather evidence. Defendants from Vortex included Russian nationals Gleb Gora, Sergei Ryzhkov, and Michael Vogel; defendants from Antier and Contrarian included Indian nationals Manu Singh, Kushagra Srivastava, Vasu Sharma, and Sabby Singh. Gora, Sharma, and Sabby Singh were arrested in Singapore on October 2, 2025 and subsequently extradited to the United States. Gotbit's case in Massachusetts preceded and informed the broader N.D. Cal. operation. Gotbit is identified as the third crypto market maker convicted for wash trading, following MyTrade (October 2024) and CLS Global FZC LLC (April 2025), signaling an escalating DOJ enforcement posture toward cryptocurrency market manipulation.","heading":"Operation Token Mirrors and Broader Enforcement Context","severity":"high","sources":[{"credibility":1,"name":"DOJ USAO-NDCA: Ten Foreign Nationals Charged in International Operation","type":"regulatory","url":"https://www.justice.gov/usao-ndca/pr/ten-foreign-nationals-charged-international-operation-targeting-cryptocurrency-market"},{"credibility":2,"name":"TRM Labs: Ten Fraudsters from Four Financial Services Firms Charged","type":"research","url":"https://www.trmlabs.com/resources/blog/ten-fraudsters-from-four-financial-services-firms-charged-in-different-cryptocurrency-market-manipulation-schemes-out-of-northern-district-of-california"},{"credibility":2,"name":"The Defiant: Crypto Market Maker CEOs Extradited From Singapore in FBI Wash Trading Sting","type":"news_article","url":"https://thedefiant.io/news/regulation/crypto-market-maker-ceos-extradited-from-singapore-in-fbi-wash-trading-sting"},{"credibility":2,"name":"The Block: US Indicts Crypto Wash Trading Defendants","type":"news_article","url":"https://www.theblock.co/post/395997/us-indicts-crypto-wash-trading"},{"credibility":2,"name":"CoinDesk: DOJ Sting Exposes Crypto Wash Trading Continues to Be Far More Common Than Expected","type":"news_article","url":"https://www.coindesk.com/business/2026/04/02/doj-sting-exposes-crypto-wash-trading-continues-to-be-far-more-common-than-expected"}]},{"content":"Gotbit Consulting LLC was registered in Belize. Its key personnel included founder and CEO Aleksei Andriunin (Russian, also holding Portuguese residency), Director of Market Making Fedor Kedrov, and Director of Sales Qawi Jalili. Kedrov and Jalili are named in the October 2024 indictment and remained at large as fugitives as of mid-2026 per available reporting. As part of his sentencing, Andriunin forfeited assets and cooperated with federal authorities, reportedly providing detailed accounts of Gotbit's wash trading operations to prosecutors. The court ordered Gotbit to cease existence and operations as a condition of its five-year probation term.","heading":"Corporate Structure and Fugitive Directors","severity":"high","sources":[{"credibility":2,"name":"Cybernews: Cryptocurrency Firm Founder Sentenced for Fraud and Market Manipulation","type":"news_article","url":"https://cybernews.com/news/cryptocurrency-firm-founder-sentenced-for-fraud-and-market-manipulation/"},{"credibility":2,"name":"BeInCrypto: Crypto Founder Andriunin Sentenced to Prison","type":"news_article","url":"https://beincrypto.com/crypto-founder-andriunin-sentenced-prison-doj-fbi/"},{"credibility":2,"name":"CoinTelegraph: Russian Gotbit Founder Strikes $23M Plea Deal with US Prosecutors","type":"news_article","url":"https://cointelegraph.com/news/russian-gotbit-23-million-plea-united-states"}]}],"sources_used":[{"credibility":1,"name":"DOJ USAO-MA: Gotbit and Founder Sentenced for Market Manipulation","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/cryptocurrency-financial-services-firm-gotbit-and-founder-sentenced-market-manipulation"},{"credibility":1,"name":"DOJ USAO-MA: Gotbit and Founder Plead Guilty","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/cryptocurrency-financial-services-firm-gotbit-and-founder-plead-guilty-market"},{"credibility":1,"name":"DOJ USAO-NDCA: Ten Foreign Nationals Charged in International Operation","type":"regulatory","url":"https://www.justice.gov/usao-ndca/pr/ten-foreign-nationals-charged-international-operation-targeting-cryptocurrency-market"},{"credibility":1,"name":"DOJ USAO-MA: Eighteen Individuals and Entities Charged","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread"},{"credibility":1,"name":"IRS Criminal Investigation: Ten Foreign Nationals Charged","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/ten-foreign-nationals-charged-in-an-international-operation-targeting-cryptocurrency-market-manipulation"},{"credibility":2,"name":"TRM Labs: Ten Fraudsters from Four Financial Services Firms Charged","type":"research","url":"https://www.trmlabs.com/resources/blog/ten-fraudsters-from-four-financial-services-firms-charged-in-different-cryptocurrency-market-manipulation-schemes-out-of-northern-district-of-california"},{"credibility":2,"name":"TRM Labs: FBI Creates Token Project in Trojan Horse Crypto Operation","type":"research","url":"https://www.trmlabs.com/resources/blog/fbi-creates-token-project-in-trojan-horse-crypto-operation-that-seizes-25-million"},{"credibility":2,"name":"Decrypt: Gotbit Founder Sentenced to Prison for Crypto Wash Trading","type":"news_article","url":"https://decrypt.co/325111/gotbit-founder-sentenced-prison-crypto-wash-trading"},{"credibility":2,"name":"Decrypt: Gotbit Founder Forfeits $23M in Crypto Market Manipulation Plea Deal","type":"news_article","url":"https://decrypt.co/310816/gotbit-founder-forfeits-23m-crypto-market-manipulation-plea-deal"},{"credibility":2,"name":"Decrypt: DOJ Alleges Gotbit Founder Made Tens of Millions on Wire Fraud","type":"news_article","url":"https://decrypt.co/289520/us-indicts-gotbit-founder-wire-fraud"},{"credibility":2,"name":"CoinDesk: Gotbit Founder Aleksei Andriunin Pleads Guilty to Wire Fraud, Market Manipulation","type":"news_article","url":"https://www.coindesk.com/policy/2025/03/20/gotbit-founder-aleksei-andriunin-pleads-guilty-to-wire-fraud-market-manipulation"},{"credibility":2,"name":"CoinDesk: DOJ Sting Exposes Crypto Wash Trading Far More Common Than Expected","type":"news_article","url":"https://www.coindesk.com/business/2026/04/02/doj-sting-exposes-crypto-wash-trading-continues-to-be-far-more-common-than-expected"},{"credibility":2,"name":"CoinDesk: Prosecutors Charge Four Crypto Market Makers with Market Manipulation","type":"news_article","url":"https://www.coindesk.com/policy/2024/10/09/prosecutors-charge-two-crypto-market-makers-employees-with-market-manipulation-fraud"},{"credibility":2,"name":"CoinTelegraph: Russian Gotbit Founder Strikes $23M Plea Deal with US Prosecutors","type":"news_article","url":"https://cointelegraph.com/news/russian-gotbit-23-million-plea-united-states"},{"credibility":2,"name":"CoinTelegraph: Gotbit Founder Extradited to US on Market Manipulation and Fraud Charges","type":"news_article","url":"https://cointelegraph.com/news/gotbit-founder-extradited-usa-face-fraud-charges"},{"credibility":2,"name":"The Block: Gotbit Founder Aleksei Andriunin Sentenced to 8 Months","type":"news_article","url":"https://www.theblock.co/post/358107/gotbit-founder-aleksei-andriunin-sentenced-to-8-months-following-wash-trading-scheme"},{"credibility":2,"name":"The Block: US Indicts Crypto Wash Trading Defendants","type":"news_article","url":"https://www.theblock.co/post/395997/us-indicts-crypto-wash-trading"},{"credibility":2,"name":"The Defiant: Crypto Market Maker CEOs Extradited From Singapore in FBI Wash Trading Sting","type":"news_article","url":"https://thedefiant.io/news/regulation/crypto-market-maker-ceos-extradited-from-singapore-in-fbi-wash-trading-sting"},{"credibility":2,"name":"CCN: DOJ Charges 10 in Massive Crypto Wash Trading Scheme","type":"news_article","url":"https://www.ccn.com/news/crypto/doj-indicts-10-crypto-wash-trading-bots-market-manipulation/"},{"credibility":2,"name":"BeInCrypto: Crypto Founder Andriunin Sentenced to Prison","type":"news_article","url":"https://beincrypto.com/crypto-founder-andriunin-sentenced-prison-doj-fbi/"},{"credibility":2,"name":"Cybernews: Cryptocurrency Firm Founder Sentenced for Fraud and Market Manipulation","type":"news_article","url":"https://cybernews.com/news/cryptocurrency-firm-founder-sentenced-for-fraud-and-market-manipulation/"}],"summary":"Gotbit Consulting LLC was a Belize-registered cryptocurrency market-making firm that operated a multi-year wash trading enterprise from 2018 to 2024. Founder and CEO Aleksei Andriunin pleaded guilty in March 2025 and was sentenced to eight months in prison in June 2025, with Gotbit ordered to forfeit approximately $23 million in seized cryptocurrency and to cease operations permanently. The firm was part of a broader DOJ enforcement sweep — Operation Token Mirrors — charging ten foreign nationals from four firms in the Northern District of California.","timeline":[{"date":"2018-01-01","event":"Gotbit Consulting LLC begins providing wash trading services to cryptocurrency token issuers, artificially inflating trading volumes on behalf of clients.","source":"DOJ USAO-MA Sentencing Press Release","source_url":"https://www.justice.gov/usao-ma/pr/cryptocurrency-financial-services-firm-gotbit-and-founder-sentenced-market-manipulation"},{"date":"2019-01-01","event":"Aleksei Andriunin and Gotbit directors give an interview describing wash trading software and strategies for concealing artificial trades on public blockchains, later cited in federal proceedings.","source":"Decrypt: DOJ Alleges Gotbit Founder Made Tens of Millions","source_url":"https://decrypt.co/289520/us-indicts-gotbit-founder-wire-fraud"},{"date":"2022-01-01","event":"Robo Inu token issuer allegedly engages Gotbit to artificially inflate its trading volume on BitMart and other exchanges.","source":"DOJ USAO-MA Eighteen Individuals Charged Press Release","source_url":"https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread"},{"date":"2024-10-08","event":"Aleksei Andriunin is arrested in Portugal.","source":"CoinTelegraph: Gotbit Founder Extradited to US","source_url":"https://cointelegraph.com/news/gotbit-founder-extradited-usa-face-fraud-charges"},{"date":"2024-10-09","event":"Federal grand jury indictment unsealed in the District of Massachusetts, charging Gotbit Consulting LLC, Aleksei Andriunin, Fedor Kedrov, and Qawi Jalili with wire fraud, conspiracy to commit market manipulation and wire fraud, and related charges. Part of a broader Massachusetts action charging 18 individuals and entities and seizing over $25 million in cryptocurrency.","source":"DOJ USAO-MA Press Release","source_url":"https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread"},{"date":"2025-02-25","event":"Aleksei Andriunin extradited from Portugal to the United States.","source":"CoinTelegraph: Gotbit Founder Extradited to US","source_url":"https://cointelegraph.com/news/gotbit-founder-extradited-usa-face-fraud-charges"},{"date":"2025-03-20","event":"Aleksei Andriunin and Gotbit Consulting LLC plead guilty to wire fraud and conspiracy to commit market manipulation and wire fraud in the District of Massachusetts. Forfeiture of approximately $23 million in cryptocurrency agreed.","source":"CoinDesk: Gotbit Founder Aleksei Andriunin Pleads Guilty","source_url":"https://www.coindesk.com/policy/2025/03/20/gotbit-founder-aleksei-andriunin-pleads-guilty-to-wire-fraud-market-manipulation"},{"date":"2025-03-25","event":"Federal grand jury in San Francisco (N.D. Cal.) indicts Gotbit employees Antoine Tsao, Ian Sofronov, and Nemanja Popov on wire fraud conspiracy and wire fraud charges as part of Operation Token Mirrors.","source":"IRS-CI: Ten Foreign Nationals Charged","source_url":"https://www.irs.gov/compliance/criminal-investigation/ten-foreign-nationals-charged-in-an-international-operation-targeting-cryptocurrency-market-manipulation"},{"date":"2025-03-30","event":"Antoine Tsao arrested at John F. Kennedy International Airport.","source":"TRM Labs: Ten Fraudsters from Four Financial Services Firms Charged","source_url":"https://www.trmlabs.com/resources/blog/ten-fraudsters-from-four-financial-services-firms-charged-in-different-cryptocurrency-market-manipulation-schemes-out-of-northern-district-of-california"},{"date":"2025-06-02","event":"Antoine Tsao pleads guilty to conspiracy to commit wire fraud before U.S. District Court Judge Araceli Martinez-Olguin in Oakland, California.","source":"TRM Labs: Ten Fraudsters from Four Financial Services Firms Charged","source_url":"https://www.trmlabs.com/resources/blog/ten-fraudsters-from-four-financial-services-firms-charged-in-different-cryptocurrency-market-manipulation-schemes-out-of-northern-district-of-california"},{"date":"2025-06-03","event":"Court enters Preliminary Order of Forfeiture against Antoine Tsao covering 1.2 million USDT.","source":"TRM Labs: Ten Fraudsters from Four Financial Services Firms Charged","source_url":"https://www.trmlabs.com/resources/blog/ten-fraudsters-from-four-financial-services-firms-charged-in-different-cryptocurrency-market-manipulation-schemes-out-of-northern-district-of-california"},{"date":"2025-06-01","event":"Aleksei Andriunin sentenced to eight months in prison (credited as time served) and one year supervised release by U.S. District Court Judge Angel Kelley in Boston. Gotbit sentenced to five years probation and ordered to permanently cease operations.","source":"Decrypt: Gotbit Founder Sentenced to Prison for Crypto Wash Trading","source_url":"https://decrypt.co/325111/gotbit-founder-sentenced-prison-crypto-wash-trading"},{"date":"2025-10-02","event":"Three defendants from other firms (Vortex and Contrarian) arrested in Singapore and subsequently extradited to the United States as part of Operation Token Mirrors.","source":"The Defiant: Crypto Market Maker CEOs Extradited From Singapore","source_url":"https://thedefiant.io/news/regulation/crypto-market-maker-ceos-extradited-from-singapore-in-fbi-wash-trading-sting"},{"date":"2026-02-10","event":"Nemanja Popov pleads guilty and is sentenced in the Northern District of California.","source":"IRS-CI: Ten Foreign Nationals Charged","source_url":"https://www.irs.gov/compliance/criminal-investigation/ten-foreign-nationals-charged-in-an-international-operation-targeting-cryptocurrency-market-manipulation"},{"date":"2026-03-30","event":"Operation Token Mirrors publicly announced; three indictments unsealed in the Northern District of California charging ten foreign nationals from Gotbit, Vortex, Antier, and Contrarian.","source":"DOJ USAO-NDCA: Ten Foreign Nationals Charged","source_url":"https://www.justice.gov/usao-ndca/pr/ten-foreign-nationals-charged-international-operation-targeting-cryptocurrency-market"}]},"v":1}