BitRiver CEO Igor Runets Charged with $12 Million Large-Scale Fraud

Igor Runets, the founder and CEO of Russian Bitcoin mining giant BitRiver, has been charged with large-scale fraud related to the failed supply of crypto mining hardware. The charges come after Runets was initially detained on tax evasion charges in January 2026.

The equipment was ordered by companies from En+ Holding, a major Russian energy and metals producer that relies heavily on hydroelectric power generation. The financial damages inflicted have been estimated at almost 1 billion Russian rubles (over $12.5 million), according to knowledgeable sources.

Runets has been moved to a pretrial detention facility after the Zamoskvoretsky District Court of Moscow approved the measure on July 22. He will spend at least two months in custody while the investigation continues. The charges against him are under Part 4 of Article 159 of the Russian Federation’s Criminal Code, ‘large-scale fraud committed by an organized group’.