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HashFlare founders arrested in ‘astounding’ $575M crypto fraud scheme


The HashFlare founders have been charged for their alleged involvement in a crypto fraud and money laundering conspiracy.

The two founders of the now-defunct Bitcoin cloud miner HashFlare have been arrested in Estonia over their alleged involvement in a $575 million crypto fraud conspiracy.

HashFlare was a cloud mining company created in 2015, which purported to allow customers to lease the company’s hashing power in order to mine cryptocurrencies and gain an equivalent share of its profits.

The company was seen as one of the leading names in the business at the time but shut down a large portion of its mining operations in July 2018.