The U.S. Department of Justice has charged 10 foreign nationals linked to cryptocurrency firms Gotbit, Vortex, Antier, and Contrarian with market manipulation through pump-and-dump schemes.
Federal prosecutors say the defendants artificially inflated trading volumes and prices before selling to unsuspecting investors. The charges emerged from an FBI sting operation using a bureau-created token to identify the alleged fraud.
Three defendants, including two CEOs, were extradited from Singapore and appeared in U.S. court. Two others have already pled guilty.
This case underscores the DOJ’s expanding reach into international cryptocurrency markets, targeting actors whose actions affect U.S. investors even when operating abroad.
Earlier this year, Gotbit founder Aleksei Andriunin reached a plea deal forfeiting $23 million in crypto assets related to similar charges.