Two Estonian nationals have been extradited from Estonia to the U.S. to face costs for his or her roles in “a large multi-faceted cryptocurrency Ponzi scheme,” in accordance with an announcement by the U.S. Division of Justice (DOJ). Sergei Potapenko and Ivan Turõgin are accused of working a $575 million Ponzi scheme involving the fraudulent cryptocurrency mining service Hashflare. They allegedly deceived victims into buying contracts for digital forex mining, however Hashflare mined lower than one % of the promised bitcoin and paid buyers with bought forex. Moreover, they raised $25 million via the fictional enterprise Polybius, which by no means turned a digital forex financial institution. The pair is accused of laundering the fraud proceeds by way of shell firms, utilizing the funds to purchase actual property and luxurious gadgets. They face a number of costs, together with conspiracy to commit wire fraud and cash laundering, every carrying a doable 20-year jail time period. The FBI and Estonian authorities investigated the case.