Estonian government will allow extradition of Hashflare defendants

Ivan Turogin and Sergei Potapenko face 18 charges in the United States and long prison terms for allegedly making HashFlare a Ponzi scheme.

Ivan Turogin and Sergei Potapenko, the co-founders of inactive Bitcoin (BTC) cloud miner HashFlare, are again slated for extradition from Estonia to the United States. The Estonian citizens’ extradition was halted by an appeals court in November, but the Estonian government has since met the necessary conditions for its continuation.

Turogin and Potapenko have been charged with 18 counts of conspiracy, wire fraud, and conspiracy to commit money laundering in the United States and face up to 20 years each in prison. Their company was once a leading cloud miner but was allegedly run as a Ponzi scheme.

Turogin and Potapenko were arrested in Estonia in November 2022, after a large-scale investigation involving U.S. and Estonian law enforcement.

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