HashFlare Founders Given Time Served For Crypto Ponzi
The founders of HashFlare, a crypto mining company behind a $577 million Ponzi scheme, have escaped additional jail time after admitting to their roles in the scheme.
Sergei Potapenko and Ivan Turõgin have been in custody for 16 months, and Seattle Federal Court Judge Robert Lasnik gave them time served in their sentencing hearings on Tuesday.
He also ordered each to pay a $25,000 fine and complete 360 hours of community service while on supervised release, which is expected to be served in their native Estonia.
The Department of Justice said on Tuesday that it’s considering whether it should appeal the sentence as prosecutors asked for the duo to be imprisoned for 10 years, while Potapenko and Turõgin had asked for time served.
The…
