BitRiver Founder Placed in Custody as Fraud Case Escalates

Russia's biggest crypto miner BitRiver is facing a fraud case after its founder Igor Runets was placed in custody under Part 4 of Article 159 of the Criminal Code, which covers aggravated fraud.

The move comes after an arbitration court awarded an En+ affiliate 954.4 million rubles ($11.9 million) over an undelivered equipment contract with BitRiver's controlling shareholder Fox Group.

Runets was already under house arrest from a separate January tax case, and the detention marks an escalation for one of Russia's most prominent figures in industrial mining.