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HashFlare cloud mining operator admits to $577 million Cryptocurrency fraud
The U.S. Department of Justice has accused HashFlare operators Potapenko and Turõgin of involvement in a $577 million Cryptocurrency Ponzi Scheme, and both have pleaded guilty. HashFlare closed in 2018, and the two may face up to 20 years in prison. The case originated in Estonia, where they were charged with multiple counts of fraud and ultimately extradited to the United States for sentencing.