A Russian national has been extradited to the United States from Portugal to face charges related to cryptocurrency market manipulation. Aleksei Andriunin, 26, was arrested in Portugal on October 8, 2024, and arrived in the U.S. on February 25, 2025. He appeared in federal court in Boston and is detained pending a future hearing.
Andriunin was indicted by a federal grand jury in Boston on October 31, 2024. The charges include wire fraud and conspiracy to commit market manipulation and wire fraud. Gotbit, the company he founded, along with its directors Fedor Kedrov and Qawi Jalili, are also charged.
Court documents describe Gotbit as a prominent "market maker" within the cryptocurrency sector from 2018 to 2024. It allegedly provided services that manipulated trading volumes for various cryptocurrency companies, including those based in the U.S. Andriunin reportedly developed software for "wash trading," which artificially increased trading volume to help cryptocurrencies gain listings on platforms like CoinMarketCap and larger exchanges.
Gotbit's employees marketed these tactics to potential clients while explaining methods used to conceal wash trades on public blockchains. The company is accused of conducting millions of dollars' worth of wash trades for clients and earning tens of millions from these activities. Allegations state that Andriunin transferred significant sums into his personal Binance account.
Wire fraud charges carry potential penalties of up to 20 years imprisonment, fines up to $250,000 or twice the offense's gross gain or loss, restitution, and forfeiture. Conspiracy charges could result in up to five years imprisonment with similar financial penalties.
The announcement came from United States Attorney Leah B. Foley and Jodi Cohen of the FBI's Boston Division. The FBI’s Legal Attaché (Madrid) and Portugal’s Policia Judiciaria ENFAST contributed valuable assistance during this process. Coordination between the Justice Department’s Office of International Affairs and Portuguese authorities facilitated Andriunin's arrest and extradition.
Assistant U.S. Attorneys Christopher J. Markham and David M. Holcomb are prosecuting this case underlining that all details are allegations until proven otherwise beyond reasonable doubt in court.