Estonian citizens acknowledged guilt in the Hashflare Crypto Ponzi chart at $ 577 million

Two Estonian citizens yesterday acknowledged the management of a large Bonzi scheme in the encrypted currency who defrauded hundreds of thousands of investors around the world, including the United States.

The scheme guarantees the service mining mining called Hashflare, which led to the investor losses of more than $ 577 million.

The founders agree to lose $ 400 million in assets

According to the court Documents, Sergei Potainko and IVAN TurõGin, both of them 40, sold customers, which led to a share of Crypto that was mined by the alleged encryption mining service.

Between 2015 and 2019, Hashflare sales reached more than $ 577 million. However, the company had no computing power to perform most of the mining he claimed. To hide this, the web panel of the company has displayed fake data as supposed mining profits for customers.

The fraudulent activities of Estonian citizens extend beyond Hashvari. In 2017, the participating founders Firing ICO’s preliminary display of a project called Polybius, claiming that it will establish a bank that specializes in the digital currency.

The initiative promised investors from the bank’s future profits, which led to a collection of at least $ 25 million. However, such a bank has not been created at all.

Encouraged individuals to invest their savings in both companies, and ensure large returns. Potainko and TurõGin distributed some profits to the first investors to maintain the credibility of the chart.

However, companies failed to provide promised returns. The money was re -directed instead to the various accounts and the coding controlled by the two men. The returns were then used to buy real estate and luxury vehicles and maintain investment and encryption accounts.

As part of the guilt acknowledgment agreement, the duo will lose the assets of more than $ 400 million, which will be used in a remission to compensate the victims. More details will be announced about this process at a later time.

Acknowledgment of guilt

After investigating the fraudulent encryptions, the authorities arrested Potapenko and TurõGin in Estonia in November 2022. At that time, the US Department of Justice accused the bilateral of 16 charges of fraud and a conspiracy against money laundering.

After their arrest, the United States sought to deliver it, but the Estonian court court canceled the request in 2023, noting concerns about the conditions of American detention facilities.

However, in January 2024, their deportation to the United States was approved again, which led to their recent calls.

Both men confessed to one charge of the plot to commit wire fraud, and the ruling is scheduled to be issued on May 8. Each of them faces up to 20 years in prison, and the final conviction will be determined by a federal judge based on the instructions for issuing American and other legal factors.