Gotbit Founder Reportedly Forfeits $23M in US Crypto Manipulation Plea
Share:
Predictions Markets
See what traders are focused on
- Gotbit founder has reached a plea agreement with US authorities to forfeit $23 million.
- Authorities arrested Aleksei Andriunin over allegations of market manipulation.
- The SEC has opened a fresh case against Gotbit
Gotbit founder Aleksei Andriunin has reportedly reached a plea agreement with US authorities to forfeit $23 million in crypto assets to settle allegations of market manipulation.
Authorities accused Andriunin of orchestrating schemes that harmed regular market participants by artificially inflating cryptocurrency prices, leading them to buy at a premium.
What Led to Aleksei Andriunin’s Arrest and Extradition?
Security officials apprehended the Gotbit founder in Portugal last year, and he was subsequently extradited to the US this past February.
Following his extradition, Andriunin’s legal team reportedly presented a plea bargain to the court and the prosecution, outlining the proposed terms. However, the final say rests with the court, and either side can back out if the judge rejects any part of the deal.
Key Terms of the Proposed Plea Agreement
The plea bargain reportedly includes a significant element: an exemption from furthe…
The post Gotbit Founder Reportedly Forfeits $23M in US Crypto Manipulation Plea appeared first on Coin Edition.
Read More
Bitwise Reports Third Consecutive Crypto Market Decline as Tokenized Assets Reach Record Highs
