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To His Own Surprise, Crypto Volume Pumper’s Business Is Still Thriving

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Eleven months ago, Alexey Andryunin was sure his business was not long for this world. 

A 22-year-old math student from Moscow, Andryunin built a business inflating trade volumes in little-known crypto tokens issued during the 2017 initial coin offering (ICO) craze. In a head-turning interview CoinDesk published last July, Andryunin candidly described the underworld of micro-cap tokens and exchanges surviving on artificial volumes ginned up by paid “market makers” (a traditional finance term used loosely in this context.)

At the time, Andryunin thought his business was heading to a decline: ICOs were moribund, the token market was shrinking ...

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