Rumor of U.S. Government Bitcoin Divestment
Today, a rumor circulating on the social media platform X suggested that the U.S. government had divested $75 million in Bitcoin. This assertion has been dismissed as incorrect by Alex Thorn, who leads research at Galaxy Digital.
Clarification on Bitcoin Transfer
Thorn clarified that this Bitcoin transfer is actually associated with the U.S. government’s legal actions against Sergei Potapenko and Igor (Ivan) Turogin, who were convicted for their roles in the HashFlare cryptocurrency mining scam.
Details of the HashFlare Scam
Potapenko and Turogin, both from Estonia, orchestrated a fraudulent operation advertised as a cryptocurrency mining service under the name HashFlare. They misled investors by selling mining contracts without possessing the necessary computing power to fulfill their claims, subsequently fabricating returns for their victims. Their scheme defrauded investors out of approximately $600 million, which they subsequently funneled into luxurious personal expenditures, including high-end vehicles and jewelry.
Legal Consequences and Asset Forfeiture
Following their conviction, which resulted in 16-month prison sentences, authorities initiated the forfeiture of $450 million in assets linked to the duo. This forfeiture process, which began in August, included not just cryptocurrency but also real estate and automobiles.
Conclusion
The recent wallet transfer has occurred after the issuance of a final forfeiture order, confirming the U.S. government’s ownership of these digital assets—contrary to the rumors of a sale being circulated online.
