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HashFlare Founders Plead Guilty To Running $577 Million Crypto Ponzi Scheme

Founders Sergei Potapenko and Ivan Turõgin pleaded guilty to running a $577 million cryptocurrency Ponzi scheme through their company HashFlare. They misled customers about mining profits and agreed to forfeit over $400 million in assets for victim compensation. Sentencing is set for May 8, 2024. - source