HashFlare Founders Sentenced: $577M Crypto Scheme Lands Co-Conspirators Behind Bars

Sergei Potapenko and Ivan Turõgin, the co-founders of defunct crypto mining platform HashFlare, have been sentenced to 16 months in prison. Their sentence reflects a lighter penalty than the decade-long term sought by prosecutors, prompting the Department of Justice to explore challenging the verdict. The pair misled investors by creating an illusion of a thriving mining operation while actually using their platform for fraudulent schemes.