U.S. Department of Justice: Four crypto market-making firms, including Gotbit, and some of their executives and employees have been indicted for alleged wash trading.

2026-04-01 02:11:13

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ChainCatcher messages: The United States Department of Justice’s Office of the U.S. Attorney for the Northern District of California announced that 10 executives and employees from four crypto market-making firms were indicted for allegedly using wash trades to artificially inflate a token’s trading volume and price. The case involves Gotbit, Vortex, Antier, and Contrarian.

Three of the defendants have already been extradited from Singapore to the United States, and two others have pleaded guilty and been sentenced. In an undercover operation, the FBI and the Criminal Investigation Division of the IRS even created multiple crypto tokens themselves to investigate illegal volume-spoofing and pump-and-dump conduct in the industry. More than $1 million in crypto assets have already been seized.

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