Russian authorities have charged Igor Runets, founder of BitRiver, with alleged fraud tied to an $8 million contract involving crypto mining equipment. In 2023, Fox, a company controlled by Runets, signed a contract to supply equipment to a company within an industrial group founded by businessman Oleg Deripaska. The buyer paid $7.9 million upfront, but the equipment was never delivered within the agreed 32-day period. Prosecutors allege Runets never intended to fulfill the agreement and used the funds for personal spending. BitRiver, founded in 2017, operates mining data centers and supplies crypto mining devices in Russia.
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