Russian authorities have charged BitRiver founder Igor Runets with alleged fraud involving about 1 billion rubles ($12.5 million), expanding the criminal case against the executive of one of Russia\u2019s largest crypto mining-linked companies.<\/p>\n
Runets was officially charged with large-scale fraud over an alleged failure to deliver crypto mining equipment under an $8 million contract, local news agency Pravo reported<\/a> on Wednesday.<\/p>\n Investigators allege that Fox, a company controlled by Runets, signed the contract in 2023 to supply the equipment to a company within an industrial group founded by businessman Oleg Deripaska. Authorities say that while the buyer paid $7.9 million upfront, the equipment was not delivered within the agreed 32-day period.<\/p>\n Prosecutors alleged that Runets did not intend to fulfill the agreement after receiving the payment and instead used the funds for personal spending.<\/p>\n Founded in 2017, BitRiver operates mining data centers and supplies crypto mining devices in Russia. The new charge adds to a broader criminal case against Runets, who was placed under house arrest<\/a> in early 2026 over separate tax-related allegations. The Zamoskvoretsky District Court in Moscow reportedly placed him in pretrial custody on July 22.<\/p>\n Related: <\/strong><\/em>Telegram founder Pavel Durov internationally wanted, Russia\u2019s FSB says<\/strong><\/em><\/a><\/p>\n