Two Estonian residents have been detained in Tallinn, Estonia by the U.S. Department of Justice for allegedly engaging in a complex cryptocurrency scam that centered on the use of offshore companies to conceal the profits of fraud. The $575 million accusation consists of 18 counts. Deceived People of Estonia Ivan Turgin and Sergei Potapenko, both 37, deceived victims into investing in a phony cryptocurrency bank named Polybius Bank that did not pay out returns to shareholders by setting up fictitious equipment rental agreements for a HashFlare cryptocurrency mining business. According to court filings, the scams deceived hundreds of thousands of The post Two Detained in Estonia for $575 Million Cryptocurrency Scam appeared first on Cryptoknowmics-Crypto News and Media Platform .
