Reportedly, the two founders of Bitcoin cloud miner HashFlare have been arrested in Estonia for running a $575 million crypto fraud conspiracy. According to the United States Department of Justice, the entire mining unit, led by founders Sergei Potapenko and Ivan Turõgin, was a part of a "multi-faceted scheme" that "defrauded hundreds of thousands of thousands of victims." Founded in 2015, HashFlare was a cloud mining company that allowed customers to lease the company's hashing power for mining Cryptocurrencies and earn profits.