According to Cointelegraph, the co-founders of the cryptocurrency mining service HashFlare have agreed to plead guilty to a single count of conspiracy to commit wire fraud. This decision comes as part of a plea agreement with U.S. authorities. During hearings on February 12 in the U.S. District Court for the Western District of Washington, Sergei Potapenko and Ivan Turogin admitted guilt to one felony charge out of the 18 they faced from U.S. prosecutors. The Estonian nationals were accused of operating HashFlare as a Ponzi scheme, defrauding users of more than $550 million between 2015 and 2019. Additionally, they raised $25 million from investors in 2017 with promises to establish a digital bank named Polybius, which was never created. Reed Smith partner and defense counsel Mark Bini, speaking to Cointelegraph after the hearings, stated that both defendants have "agreed to forfeit their interests in assets that the Government froze in 2022" and will provide assistance to ensure "zero financial harm to anyone." According to Bini, Potapenko, Turogin, and HashFlare returned $350 million in cryptocurrency payments to users between 2015 and 2022. HashFlare ceased operations in 2019, and Estonian authorities arrested Potapenko and Turogin in 2022 as part of the 18-count indictment. Following legal challenges, they were extradited to the United States in May 2024. Both have been free on bail since July 2024 but could face up to 20 years in prison each after a sentencing hearing scheduled for May 8. This case remains under development, and further updates will be provided as new information becomes available.

Litecoin recent price action has left traders at a crossroads as the cryptocurrency struggles to recover from a sharp rejection at $131. After an attempt to push higher, LTC failed to hold its momentum, turning $113 into a critical level that could shape its next move. With bullish hopes now hinging on this key support, can Litecoin bounce back, or is further downside inevitable? The market is... source: https://www.newsbtc.com/news/litecoin/will-litecoin-bounce-back/

ARB might continue to perform poorly in the market. source: https://ambcrypto.com/arbitrum-arb-at-risk-of-forming-a-lifetime-low-heres-why/

Bitcoin corrects after a shocking CPI print, potential BTC miner sell pressure and concerning macroeconomic developments. source: https://cointelegraph.com/news/bitcoin-price-sells-off-after-hot-cpi-print-but-100k-remains-in-sight?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Sergei Potapenko and Ivan Turogin, both Estonian nationals, agreed to forfeit all claims in digital assets frozen by US authorities as part of a plea deal with prosecutors. source: https://cointelegraph.com/news/hashflare-founders-plea-deal-wire-fraud?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

The post Bullish Sign for Crypto? BlackRock’s Multi-Million Investment in BTC and ETH appeared first on Coinpedia Fintech News Due to recent investments, BlackRock, the world’s largest asset manager, is attracting significant attention from crypto enthusiasts amid ongoing market uncertainty. Today, February 12, 2024, blockchain-based security intelligence firm Arkham posted on X (formerly... source: https://coinpedia.org/news/bullish-sign-for-crypto-blackrocks-multi-million-investment-in-btc-and-eth/

A federal court has ordered a Florida resident who operated a digital asset fraud scheme years ago to pay millions of dollars in restitution, according to the U.S. Commodity Futures Trading Commission (CFTC). The CFTC says that the U.S. District Court for the District of Massachusetts has imposed a consent order on Randall Crater, requiring […] The post Florida Man Ordered To Pay $7,600,000 in... source: https://dailyhodl.com/2025/02/12/florida-man-ordered-to-pay-7600000-in-restitution-after-promoting-supposed-gold-backed-cryptocurrency-scam/

Some 20 US states are mulling creating Bitcoin reserves, and so is the federal government. source: https://cointelegraph.com/news/bitcoin-reserve-bills-add-23b-buys-vaneck?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

The crypto markets have taken a hit after the release of the U.S. January Consumer Price Index report, which indicated a higher inflation and consumer price surge than expected. The CPI rose by 0.5% month-on-month, measuring the cost of consumer products, raising inflation to 3.0%. source: https://www.cryptopolitan.com/bitcoin-plunges-on-shocking-cpi/

President Donald Trump has reportedly traded prisoners with Russia, freeing the former owner of a crypto exchange for American teacher Marc Fogel. According to a new report by The New York Post, anonymous White House officials say Trump has swapped Russian prisoner Alexander Vinnik – who was convicted of money laundering through the crypto exchange […] The post President Trump Does Prisoner... source: https://dailyhodl.com/2025/02/12/president-trump-does-prisoner-swap-with-russia-freeing-crypto-exchange-owner-with-american-teacher-report/

Fracture Labs has sued Jump Trading, accusing it of running a "pump and dump" scheme with DIO tokens, allegedly manipulating the token's price for profit during FractureLabs' fundraising.