Fun

Estonian court nixes extradition of accused crypto scammers to US

News Feed - 2023-11-30 05:11:00

Derek Andersen3 hours agoEstonian court nixes extradition of accused crypto scammers to USIvan Turogin and Sergei Potapenko are suspected in a $575 million fraud case, but they can’t be exposed to U.S. detention conditions.770 Total views22 Total sharesListen to article 0:00NewsJoin us on social networksIvan Turogin and Sergei Potapenko, co-founders of Bitcoin (BTC) cloud miner HashFlare, have successfully appealed their extradition from Estonia to the United States, where the two face 18 counts of fraud and money laundering. The Tallinn Circuit Court overturned a lower court’s order on Nov. 29, according to a local press report.


According to the United States Justice Department, HashFlare, which operated from 2015 to 2019, was a Ponzi scheme with hundreds of thousands of victims paying in a total of $575 million. The company claimed to lease hashing power for crypto mining, and it also encouraged investment in a fake bank. If convicted in the United States, Turogin and Potapenko each face up to 20 years in prison.


Related: Atomic Wallet asks to toss suit over $100M hack, saying it has ‘no US ties’


Turogin and Potapenko were arrested in Estonia, where they are citizens, after a U.S. grand jury returned an indictment in November 2022. The Estonian government approved their extradition in September. According to the BBC, the investigation of the men was carried out in Estonia with the help of 15 Americans and was one of the biggest fraud cases in the country’s history.The FBI’s Seattle Division is seeking information from potential victims of two fraudulent schemes launched by Ivan Turõgin and Sergei Potapenko through their companies HashCoins, https://t.co/nkvQ93QCgz, and Polybius.— Hacker News (@Hacker__News) January 6, 2023


The businessmen’s defense provided “evidence regarding the conditions of detention in the United States” that the government had not considered and claimed there were procedural irregularities in issuing the extradition orders. In overturning those orders, the circuit court cited European Court of Justice and the European Court of Human Rights practice.The HashFlare homepage. Source: HashFlare


The court ordered Turogin, Potapenko and their families to receive over 100,000 euros ($110,000) in reimbursement. Its decision can be appealed by Dec. 11.


Estonia passed enhanced Anti-Money Laundering laws, including the introduction of the Financial Action Task Force’s Travel Rule, that led to the closure of almost 400 virtual asset service providers in May.


Magazine: E For Estonia: How Digital Natives are Creating the Blueprint for a Blockchain Nation# Bitcoin# Ponzi Scheme# Fraud# Mining# Cloud Mining# Bitcoin Mining# Estonia# HashMiningAdd reactionAdd reactionRead moreFutures will be the best crypto game in town even after a Bitcoin spot ETFBitcoin NFT marketplace Bioniq eyes lofty goal of alleviating network congestionLuxor refutes claims its Bitcoin hash rate-backed product is BlockFi, Celsius 2.0

News Feed

Huobi Becomes Latest Crypto Exchange to Receive Provisional Approval From Dubai Regulator
Huobi Becomes Latest Crypto Exchange to Receive Provisional Approval From Dubai Regulator Huobi recently became the latest cryptocurrency exchange platform to be granted provisiona
Researchers identify key circuit layer vulnerabilities in SNARK systems
Ana Paula Pereira3 hours agoResearchers identify key circuit layer vulnerabilities in SNARK systemsA study by Imperial College London examined 141 vulnerabilities in SNARK systems, mostly impacting system soundness and c
Grayscale’s Litecoin and Bitcoin Cash Trusts Trade for Tremendous Premiums
Grayscale"s Litecoin and Bitcoin Cash Trusts Trade for Tremendous PremiumsThis week data from Arcane Research shows there’s been massive demand for Grayscale’s recently
Spellfire Creates 100 Rare NFT Cards to Sell on OpenSea
Spellfire Creates 100 Rare NFT Cards to Sell on OpenSea sponsored The first limited edition of Spellfire NFT cards has already reached the shelves of OpenSea. Spellfire NFTs have a
Bitcoin Market Leverage and Coinbase Premium: What Recent Data Reveals
Este artículo también está disponible en español. As Bitcoin currently faces a downturn and now seeing a recovery suggesting a preparation for its next bull run, market p
Bitcoin, Ethereum Technical Analysis: ETH Nears $1,500 Level to Start the Weekend
Bitcoin, Ethereum Technical Analysis: ETH Nears $1,500 Level to Start the Weekend Ethereum neared a breakout below $1,500 to start the weekend, pushing prices closer to a one-month
Dogecoin Is The Top ‘Trump Victory’ Trade, Says Investment Firm CEO
Este artículo también está disponible en español. Leading figures in the crypto sector have highlighted Dogecoin as the potential top beneficiary of a victory by Donald T
TVL in Defi Slides Under $40 Billion, Tapping a Low Not Seen Since February 2021
TVL in Defi Slides Under $40 Billion, Tapping a Low Not Seen Since February 2021 The total value locked (TVL) in decentralized finance (defi) has fallen below the $40 billion mark
Best Presales to Buy After Binance Denies Rumors About Dumping Solana
Este artículo también está disponible en español. A Binance spokesperson has clarified that rumors suggesting that the company was dumping some of its crypto holdings, in
Coinbase Stocks Slide Over 30% This Quarter, Matching Post-FTX Collapse Lows
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
VanEck subsidiary’s memecoin index up 137% year-to-date
Zoltan Vardai13 hours agoVanEck subsidiary’s memecoin index up 137% year-to-dateThis represents a 15x increase compared to the S&P 500’s year-to-date returns.1027 Total views5 Total sharesListen to article 0:00Ne
Reusable Payment Addresses: A New Tool to Provide More Privacy in Bitcoin Cash
Reusable Payment Addresses: A New Tool to Provide More Privacy in Bitcoin Cash Electron Cash, a leading bitcoin cash wallet, has implemented a new feature called