Gotbit Founder Sentenced to 8 Months — Market Manipulation Uncovered

Gotbit, a big name in the crypto world, is in trouble.
The founder, Aleksei Andriunin, got 8 months in jail and 1 year of supervision.

Why Gotbit Got Caught
Gotbit made fake trades — a trick called wash trading — to boost prices.
This made tokens look more popular and busy.
They teamed up with platforms like BitGet and pushed tokens like Robo Inu, Water coin, Beer coin and Saitama.

Gotbit To Pay the Price
Gotbit must forfeit $23M in profits.
The company is now shut down and under probation.
Prosecutors say this is a big win against fraud in the industry.

Wash trading: buying and selling back to oneself to fake activity.
Forfeit: to lose assets as punishment.