be careful!!!
The CEO of Gotbit Hedge Fund, Alexey Andryunin, was recently arrested in Portugal and is awaiting extradition to the United States due to allegations related to cryptocurrency fraud. Gotbit was involved as the market maker for the Hamster Kombat token ($HMSTR), and the charges against Andryunin and others include market manipulation through practices like "wash trading," which artificially inflates trading volumes. This has led to significant consequences for those involved, with potential prison sentences of up to 25 years.
The investigation is part of a broader FBI sting operation targeting crypto firms engaged in fraudulent practices. As a result, the price of the $HMSTR token has experienced volatility, and its reputation has been impacted. Although Andryunin's arrest is confirmed, there is no indication that additional arrests related to the $HMSTR project are forthcoming at this time.
