💨 Abstract

A cryptocurrency market maker, Aleksei Andriunin, pleaded guilty in a U.S. court for market manipulation and wire fraud. His company, Gotbit, conspired to artificially inflate trading volume for client tokens from 2018 to 2024. The scheme involved "wash trading" and was part of a wider probe into the crypto sector.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖