• HashFlare duo
    Hack & Scam

    HashFlare Duo Receive Time Served in $577 Million Crypto Scam

    August 13, 2025 - By 

    In a developing story, HashFlare duo Sergei Potapenko and Ivan Turõgin are sentenced to time served for one of the largest cryptocurrency fraud cases in U.S. history.  The HashFlare duo previously pleaded guilty to their crime of the massive $577 million Ponzi scheme.  However, Federal Judge Robert Lasnik handed down the ruling, allowing the Estonian nationals to avoid additional prison time. They had served 16 months in custody by this time. For context, the HashFlare duo, Sergei and Turõgin were arrested in Estonia in November 2022 and extradited to the United States in May 2024.  The duo pleaded guilty to…

  • HashFlare fraud guilty plea
    Regulation

    HashFlare Founders Face 10 Years in Prison for $577M Scheme

    August 7, 2025 - By 

    Sergei Potapenko and Ivan Turõgin, known as the HashFlare founders, are set to serve up to a decade in prison after confessing to wire fraud. The duo of the collapsed crypto mining platform, are pleading for leniency after the 10-year prison sentence has been announced.  They insist they have already served enough prison time and should walk free.  However, the case has ignited fierce debate over justice, victim losses, and the murky world of crypto scams. It is currently being held in Seattle’s Federal Court under Judge Robert Lasnik, Prosecutors during the sentencing branded HashFlare a “classic Ponzi scheme” that…