Hashflare founders admitted that he was guilty of $ 577 million
- Hashflare services in the Bonzi chart caused $ 577 million, deceiving global investors.
- Sergei Boutbinko and Ivan Torgin may face up to 20 years in prison.
The founders participating in Hashflare Appeal On Wednesday, guilty to conspire against a wire after the management of the Punzi scheme worth $ 577 million, which deceived hundreds of thousands of investors around the world through fake encryption mining.
The fraud in Hashflare Crypto revealed a value of $ 577 million
In November 2022, two Estonian citizens were arrested by the Estonia authorities. Sergey Boutbinko and Ivan Turgin, the founders participating in cloud mining service, were arrested and handed over to the United States on an indictment of 18.
Hashflare was active from 2015 to 2019. It provided cloud mining services where users can extract cryptocurrencies such as Bitcoin and Ethereum without buying or needing any expensive devices. The idea was to purchase contracts for resuming retail equipment in Hashflare.
After an intensive investigation by the FBI, the founders acknowledged that he was guilty of the Cryptocurrency Plan of $ 577 million. The investigation was reported by the US Department of Justice (Doj). Yesterday, both men acknowledged that he was guilty of conspiring for fraud and money laundering, which may lead to a 20 -year prison sentence.
More investigations showed that they had laundering the stolen money through encryption accounts and with that money, they acquired 75 luxurious properties and more mining equipment.
After the investigations, the court documents showed that Hashflare had less than 1 % of the mining equipment that it claimed, which means that the Potapenko and Turõgen computing power was much smaller of the advertisement. When the investors tried to withdraw their profits, the two men either made or pushed them again using the encryption from the market.
In addition, Hashflare promoted a fake coded bank called Polybius, which failed to pay dating profits, which increased the financial losses of investors.
Potapenko and Turõgin lawyers claimed that any of Hashflare investors have already lost money. The only crime committed by men is lying about the size of the Hashvazeli mining operation. After adopting guilt, the two men agreed to give up assets of more than $ 400 million, which will be used to pay the victims.
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