Ten crypto executives, employees indicted in ‘pump-and-dump’ schemes
By Jakob Rodgers
Published on March 31, 2026.
Ten executives and employees from around the world have been indicted over the last year for allegedly illegally inflating the value of certain cryptocurrencies in so-called pump-and-dump schemes. The individuals, including at least two CEOs, and executives from several crypto firms, include Gotbit, Vortex, Antier and Contrarian. Some of the indicted crypto employees have already pleaded guilty to federal charges, while others, including three recently extradited from Singapore, face up to 20 years in prison if convicted. The schemes involved a practice called "wake trading" where traders allegedly act as both buyer and seller in the same transaction to artificially inflate both the trading volume and price of cryptocurrencies. The federal investigators have seized more than $1 million.
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