14.06.2025 11:39

The U.S. Department of Justice (DOJ) has forced the dissolution of Gotbit Consulting LLC, a Russian-based cryptocurrency firm, following a significant crackdown. This decisive action involved the seizure of $23 million in cryptocurrency assets.

Years of fraudulent activity, characterized by the manipulation of trading volume to deceive investors and trading platforms, formed the basis of the DOJ’s case against Gotbit. The deceptive practices employed by the firm significantly impacted market integrity.

The DOJ's announcement, made public on June 13th, detailed Gotbit's extensive scheme to inflate its trading volume, presenting a false image of success and attracting unsuspecting participants. This revelation highlights the ongoing challenges in regulating the cryptocurrency market and combating fraudulent operations.

This substantial seizure of crypto assets underscores the DOJ's commitment to prosecuting those involved in manipulating the cryptocurrency market. The dissolution order against Gotbit serves as a strong deterrent against similar fraudulent activities within the industry. The case demonstrates the far-reaching consequences for those engaging in market manipulation.

The information presented here was compiled from internet sources.