Estonia – DIGIT INFO

$450M in Seized Crypto Assets on Track for Return to Defrauded Investors

DIGIT — Sat, 16 Aug 2025 03:30:24 +0000

The Justice Department is unleashing over $450 million in seized crypto, real estate, and luxury assets to repay thousands of defrauded victims in a $577 million scheme. DOJ Plans Restitution for Thousands After $577M Cryptocurrency Fraud The U.S. Department of Justice (DOJ) announced on Aug. 12 that two Estonian nationals have been sentenced for operating […]

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Hashflare Operators Plead Guilty in Massive Fraud Case

DIGIT — Sun, 16 Feb 2025 05:30:05 +0000

Two Estonian nationals, Sergei Potapenko and Ivan Turõgin, pleaded guilty to operating a $577 million cryptocurrency Ponzi scheme through their fraudulent mining service, Hashflare. The scheme, running from 2015 to 2019, deceived hundreds of thousands worldwide, including U.S. investors, by selling mining contracts despite lacking the computing power to generate promised returns. Instead, they fabricated […]

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Estonia shows AI-powered decentralized networks could transform US policy

DIGIT — Sun, 29 Sep 2024 22:56:41 +0000

Estonia is serving as an example of how smaller nations can use technology to punch above their weight and enhance their economic and political standing.

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Estonian court nixes extradition of accused crypto scammers to US

DIGIT — Wed, 29 Nov 2023 20:20:00 +0000

Ivan Turogin and Sergei Potapenko are suspected in a $575 million fraud case, but they can’t be exposed to U.S. detention conditions.

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LHV Bank founder has $470M worth of Ether, but lost his private key

DIGIT — Tue, 07 Nov 2023 06:00:43 +0000

Rain Lõhmus, the founder of LHV Bank told Estonian media last month he’s not made much effort to recover the funds, but is willing to pay someone who can.

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Crypto firm claiming $1.4B in trades on CMC flashes reportedly fake license data

DIGIT — Tue, 26 Sep 2023 11:35:03 +0000

A crypto exchange claiming $1.7 billion in daily trades and reporting $1.4 billion of daily trading volume on CoinMarketCap had reportedly displayed false license data until Estonian regulators checked it.

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CoinsPaid claims North Korean hacking group used fake job interview to steal $37M

DIGIT — Mon, 07 Aug 2023 16:15:05 +0000

Hackers attempted to infiltrate CoinsPaid infrastructure directly starting in March 2023, but switched their approach to targeting individuals through fake high-salary job offers.

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Crypto payment gateway CoinsPaid suspects Lazarus Group in $37M hack

DIGIT — Thu, 27 Jul 2023 01:40:55 +0000

CoinsPaid said it is now working with Estonian law enforcement and several blockchain security firms are assisting to minimize the impact of the July 22 exploit.

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Nearly 400 Crypto Firms Lose Their Estonian Licenses Under New Rules

DIGIT — Thu, 11 May 2023 12:04:58 +0000

The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset services. Most Estonian Licenses for Provision of Crypto-Related Services Expire A total of 389 […]

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Estonia squeezes out 400 crypto firms after new laws

DIGIT — Tue, 09 May 2023 04:47:40 +0000

Estonia’s money laundering regulator highlighted a number of issues it found within local crypto firms, such as dodgy execs and nonsensical business plans.

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