Aleksei Andriunin, the founder of Gotbit, has agreed to forfeit approximately $23 million in Tether (USDT) and USD Coin (USDC) as part of a plea deal with federal prosecutors in Massachusetts.
According to a report from Law360 on March 19, Andriunin, a Russian national, has agreed to plead guilty to three charges of conspiracy to commit wire fraud and market manipulation. The plea deal follows allegations that Gotbit, a Belize-registered market maker, engaged in widespread cryptocurrency market manipulation from 2017 to 2024.
Details of the Plea Agreement
Under the terms of the deal, Andriunin will surrender about $23 million in USDT and USDC. The agreement was outlined in a letter signed by Andriunin on March 19.
“Defendant understands and agrees that forfeiture shall not satisfy or affect any fine, lien, penalty, restitution, cost of imprisonment, tax liability, or any other debt owed to the United States,” the letter stated.
Massachusetts attorney Leah Foley clarified that the plea agreement only applies to the Massachusetts district and does not bind the US Attorney General or any other federal, state, or local authorities. Foley also noted that the court is not obligated to follow the proposed sentencing guidelines, meaning Andriunin cannot withdraw his plea if the court imposes a different sentence.
Extradition and Legal Background
Andriunin, 26, was extradited to the United States in October 2024 after being arrested by Portuguese authorities. He has since appeared in a federal court in Boston, Massachusetts, where he was ordered to remain in custody.
The charges stem from an October 2024 indictment that accused Andriunin and Gotbit of conducting a large-scale market manipulation scheme. Gotbit reportedly created artificial trading volume for cryptocurrency projects, including firms in the United States, over a seven-year period.
Other Gotbit Employees Implicated
Massachusetts prosecutors have also named other Gotbit executives in the case, including marketing director Fedor Kedrov and sales director Qawi Jalili, both of whom are based in Russia.
Foley’s letter stated that the assets listed in the forfeiture agreement are controlled by Andriunin on behalf of Gotbit, despite technically belonging to the company.