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    <p>Crypto b<a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a>inessmen Ivan Turogin and Sergei Potapenko are set to be extradited to the <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> to face charges of <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> for allegedly running a $575 million Ponzi scheme called <a rel="noopener noreferrer nofollow" title="HashFlare" href="https://thebittimes.com/tag/hashflare.html">HashFlare</a>.</p>
    <p>The <a rel="noopener noreferrer nofollow" title="Estonia" href="https://thebittimes.com/tag/estonia.html">Estonia</a>n government cleared the duo for extradition on Thursday, after a previo<a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> attempt was blocked by the Tallinn Circuit Court in November. Lawyers for the b<a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a>inessmen successfully argued that the government hadn’t considered the “conditions of detention in the United States” that would infringe on their human rights, and that there were procedural irregularities.</p>
    <p>Now, local news Potimees reports that the Ministry of Justice has gathered enough evidence to conclude that extradition conditions have been satisfied.</p>
    <p>Turogin and Potapenko were arrested in November 2022 in Tallinn. According to the US Attorney’s Office in the Western District of Washington, the businessmen defrauded “hundreds of thousands” through their crypto mining company. The pair are also accused of money laundering. Proceeds were allegedly used to buy real estate and luxury cars.</p>
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       Finnish police trace crypto to accused blackmailer of 33,000 therapy patients
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Finnish police trace crypto to accused blackmailer of 33,000 therapy patients” — Protos" src="https://protos.com/finnish-police-trace-crypto-to-accused-blackmailer-of-33000-therapy-patients/embed/#?secret=FIfFBFLagd#?secret=8R9MlZ3iqK" data-secret="8R9MlZ3iqK" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
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    <p><em>Read more: Bitcoin ransomware gang claims to have hacked major UK water provider</em></p>
    <p>“HashFlare allegedly did not have the virtual currency mining equipment it claimed to have,” the US Attorney’s Office stated. “In fact, according to the indictment, HashFlare’s equipment performed Bitcoin mining at a rate of less than one percent of the computing power it purported to have.</p>
    <p>“When investors asked to withdraw their mining proceeds, the defendants were not able to pay with the mined currency as promised. Instead, the defendants either resisted making the payments, or paid off the investors using virtual currency the defendants had purchased on the open market—not currency they had mined.”</p>
    <p>Turogin and Potapenko will now be extradited to the <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a>, where they face 18 charges of <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> and money laundering.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/estonia-to-extradite-duo-accused-of-600m-crypto-fraud-to-us-tbt77756.html">https://thebittimes.com/estonia-to-extradite-duo-accused-of-600m-crypto-fraud-to-us-tbt77756.html</a></p>

Estonia to extradite duo accused of $600M crypto fraud to US

TheBitTimes

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