Two Estonian citizens arrested in $575 million cryptocurrency fraud, money laundering scheme

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By Kanishka Singh WASHINGTON (Reuters) -Two Estonian citizens were arrested in Tallinn, Estonia, on an 18-count indictment for their alleged involvement in a $575 million cryptocurrency fraud and money laundering conspiracy, the U.S. Justice Department said on Monday. Sergei Potapenko and Ivan Turõgin, both 37, allegedly defrauded hundreds of thousands of victims through a multi-faceted scheme, wherein they induced them to enter fraudulent equipment rental contracts with the defendants’ cryptocurrency mining service called HashFlare, the department said in a statement. They also made victims i…

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