Igor Runets faces large-scale fraud charges after allegedly failing to deliver $8 million in crypto mining equipment to En+ subsidiary.
A Russian court ordered the detention of Igor Runets, founder of crypto mining firm BitRiver, on fraud charges linked to a failed $8 million equipment contract. Investigators allege the breach caused damages exceeding 1 billion rubles, or $12.5 million, to Infrastructure of Siberia, an En+ subsidiary.
Runets had been under house arrest before his transfer to a pretrial facility. The case adds to existing legal pressures, including tax evasion charges and a six-year regional ban on crypto mining, which has disrupted BitRiver’s Siberian operations.
En+, a major aluminum producer, also manages digital infrastructure projects, including crypto mining. The fraud allegations stem from Runets’ alleged failure to fulfill contractual obligations, further destabilizing his company’s position in Russia’s crypto sector.