The Department of Justice announced on Monday that two Estonian citizens were arrested on Sunday in Tallinn, Estonia on an 18-count indictment for alleged involvement in a $575 million cryptocurrency fraud and money laundering conspiracy.
The two men, Sergei Potapenko and Ivan Turõgin, both 37 years old, allegedly defrauded hundreds of thousands of people out of money by convincing victims to enter into fraudulent equipment rental contracts with the defendants’ cryptocurrency mining service called HashFlare.
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