Gothit founder sentenced to 8 months in prison for false trading case, company suspended operations for 5 years

According to The Block, Gottit founder Aleksei Andriunin has been sentenced to 8 months in prison and an additional year of regulatory release by a federal court in Massachusetts for manipulating the cryptocurrency market through false trading. Gottit has also been sentenced to 5 years of probation, during which all operations will be suspended. The prosecutor pointed out that Gotbit has been creating false trading volumes for multiple cryptocurrency projects since 2018 to manipulate coin prices and promote their launch, with a cumulative trading volume of tens of millions of dollars.