Latest news with #RoboInu
Yahoo
21-03-2025
- Business
- Yahoo
Cryptocurrency firm founder pleads guilty in US to market manipulation scheme
By Nate Raymond BOSTON (Reuters) - The founder of a cryptocurrency financial services firm pleaded guilty on Friday to U.S. charges that he participated in a wide-ranging scheme to manipulate the market for digital tokens on behalf of client companies. Aleksei Andriunin, the founder and CEO of cryptocurrency "market maker" Gotbit, and his company entered guilty pleas in federal court in Boston to charges that they conspired to commit market manipulation and committed wire fraud. The pleas by the Russian national and his company came less than a month after Andriunin, 26, was extradited from Portugal, where he had been residing at the time of his arrest in October as part of a probe into the crypto sector. They were among 15 people and three firms charged following a novel investigation dubbed "Operation Token Mirrors," in which the FBI for the first time directed the creation of its own digital token to help catch fraudsters in the crypto market. According to their plea deals, prosecutors have agreed to recommend that Andriunin receive up to two years in prison when he is sentenced on June 16, prosecutors said. Gotbit agreed to forfeit about $23 million in cryptocurrency. Andriunin's lawyer did not respond to a request for comment. Prosecutors said that from 2018 to 2024, Gotbit engaged in "wash trading," a form of sham trading, and market manipulation on behalf of several cryptocurrency clients to help artificially inflate trading volume for their tokens. The indictment cited a 2019 interview published online in which Andriunin described developing a code to wash trade cryptocurrencies to artificially inflate trading volume so they could get listed and trade on larger cryptocurrency exchanges. Prosecutors said Gotbit made wash trades worth millions of dollars and received tens of millions of dollars in proceeds for its services for cryptocurrencies including Saitama and Robo Inu. Individuals associated with those cryptocurrencies have also been charged.
Khaleej Times
21-03-2025
- Business
- Khaleej Times
Crypto firm CEO pleads guilty to market manipulation, fraud charges
The founder of a cryptocurrency financial services firm pleaded guilty on Friday to US charges that he participated in a wide-ranging scheme to manipulate the market for digital tokens on behalf of client companies. Aleksei Andriunin, the founder and CEO of cryptocurrency "market maker" Gotbit, and his company entered guilty pleas in federal court in Boston to charges that they conspired to commit market manipulation and committed wire fraud. The pleas by the Russian national and his company came less than a month after Andriunin, 26, was extradited from Portugal, where he had been residing at the time of his arrest in October as part of a probe into the crypto sector. They were among 15 people and three firms charged following a novel investigation dubbed "Operation Token Mirrors," in which the FBI for the first time directed the creation of its own digital token to help catch fraudsters in the crypto market. According to their plea deals, prosecutors have agreed to recommend that Andriunin receive up to two years in prison when he is sentenced on June 16, prosecutors said. Gotbit agreed to forfeit about $23 million in cryptocurrency. Andriunin's lawyer did not respond to a request for comment. Prosecutors said that from 2018 to 2024, Gotbit engaged in "wash trading," a form of sham trading, and market manipulation on behalf of several cryptocurrency clients to help artificially inflate trading volume for their tokens. The indictment cited a 2019 interview published online in which Andriunin described developing a code to wash trade cryptocurrencies to artificially inflate trading volume so they could get listed and trade on larger cryptocurrency exchanges. Prosecutors said Gotbit made wash trades worth millions of dollars and received tens of millions of dollars in proceeds for its services for cryptocurrencies including Saitama and Robo Inu. Individuals associated with those cryptocurrencies have also been charged.
Yahoo
28-02-2025
- Business
- Yahoo
Cryptocurrency firm founder extradited from Portugal to face US fraud charges
By Nate Raymond BOSTON (Reuters) - The founder of a cryptocurrency financial services firm has been extradited from Portugal to face U.S. charges that he participated in a wide-ranging scheme to manipulate the market for digital tokens on behalf of client companies. Aleksei Andriunin, the founder and CEO of cryptocurrency "market maker" Gotbit, was ordered detained following an appearance in Boston federal court on Wednesday, one day after his extradition, the U.S. Department of Justice said. The 26-year-old Russian national during the court hearing pleaded not guilty to charges of wire fraud and conspiracy to commit market manipulation and wire fraud. His lawyer, Roger Burlingame at the law firm Dechert, declined to comment. Andriunin and his company were among 15 individuals and three firms charged in October following a novel investigation into the crypto sector dubbed "Operation Token Mirrors," in which the FBI for the first time directed the creation of its own digital token to help catch fraudsters in the market. Prosecutors said that from 2018 to 2024, Gotbit engaged in "wash trading," a form of sham trading, and market manipulation on behalf of several cryptocurrency clients to help artificially inflate trading volume for their tokens. The indictment cited a 2019 interview published online in which Andriunin described developing a code to wash trade cryptocurrencies to artificially inflate trading volume so they could get listed and trade on larger cryptocurrency exchanges. Prosecutors said Gotbit made wash trades worth millions of dollars and received tens of millions of dollars in proceeds for its services for cryptocurrencies including Saitama and Robo Inu. Individuals associated with those cryptocurrencies have also been charged. Andriunin was arrested in Portugal where he was residing in October when the charges against him and the others were first announced. Gotbit and two of its employees in Russia are also facing charges, though they have not appeared in court to face them.
Yahoo
26-02-2025
- Business
- Yahoo
Cryptocurrency firm founder extradited from Portugal to face US fraud charges
By Nate Raymond BOSTON (Reuters) - The founder of a cryptocurrency financial services firm has been extradited from Portugal to face U.S. charges that he participated in a wide-ranging scheme to manipulate the market for digital tokens on behalf of client companies. Aleksei Andriunin, the CEO of cryptocurrency "market maker" Gotbit, was ordered detained following an appearance in Boston federal court on Wednesday, one day after his extradition. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Andriunin, 26, was indicted in October on charges of wire fraud and conspiracy to commit market manipulation and wire fraud. He and his company were among 15 individuals and three firms charged following a novel investigation into the crypto sector dubbed "Operation Token Mirrors," in which the FBI for the first time directed the creation of its own digital token to help bait and catch fraudsters in the market. Andriunin's extradition and detention were announced by the office of U.S. Attorney Leah Foley in Boston. Prosecutors said that from 2018 to 2024, Gotbit engaged in "wash trading," a form of sham trading, and market manipulation on behalf of several cryptocurrency clients to help artificially inflate trading volume for their tokens. The indictment cited a 2019 interview published online in which Andriunin described developing a code to wash trade cryptocurrencies to artificially inflate trading volume so they could get listed and trade on larger cryptocurrency exchanges. Prosecutors said Gotbit made wash trades worth millions of dollars and received tens of millions of dollars in proceeds for its services for cryptocurrencies including Saitama and Robo Inu. Individuals associated with those cryptocurrencies have also been charged. Andriunin, a Russian national, was arrested in Portugal where he was residing in October when the charges against him and the others were first announced. His lawyers did not respond to requests for comment. Gotbit and two of its employees in Russia are also facing charges, though they have not appeared in court to face them.
Reuters
26-02-2025
- Business
- Reuters
Cryptocurrency firm founder extradited from Portugal to face US fraud charges
BOSTON, Feb 26 (Reuters) - The founder of a cryptocurrency financial services firm has been extradited from Portugal to face U.S. charges that he participated in a wide-ranging scheme to manipulate the market for digital tokens on behalf of client companies. Aleksei Andriunin, the CEO of cryptocurrency "market maker" Gotbit, was ordered detained following an appearance in Boston federal court on Wednesday, one day after his extradition. Andriunin, 26, was indicted in October on charges of wire fraud and conspiracy to commit market manipulation and wire fraud. He and his company were among 15 individuals and three firms charged following a novel investigation into the crypto sector dubbed "Operation Token Mirrors," in which the FBI for the first time directed the creation of its own digital token to help bait and catch fraudsters in the market. Andriunin's extradition and detention were announced by the office of U.S. Attorney Leah Foley in Boston. Prosecutors said that from 2018 to 2024, Gotbit engaged in "wash trading," a form of sham trading, and market manipulation on behalf of several cryptocurrency clients to help artificially inflate trading volume for their tokens. The indictment, opens new tab cited a 2019 interview published online in which Andriunin described developing a code to wash trade cryptocurrencies to artificially inflate trading volume so they could get listed and trade on larger cryptocurrency exchanges. Prosecutors said Gotbit made wash trades worth millions of dollars and received tens of millions of dollars in proceeds for its services for cryptocurrencies including Saitama and Robo Inu. Individuals associated with those cryptocurrencies have also been charged. Andriunin, a Russian national, was arrested in Portugal where he was residing in October when the charges against him and the others were first announced. His lawyers did not respond to requests for comment. Gotbit and two of its employees in Russia are also facing charges, though they have not appeared in court to face them.
