Igor Runets, the founder and CEO of BitRiver, Russia’s largest operator of cryptocurrency mining infrastructure, has reportedly been arrested in Moscow on suspicion of large-scale tax concealment. The news, widely reported across Russian media outlets citing sources close to law enforcement, alleges that Runets is being investigated under Article 199 of the Russian Criminal Code, which pertains to tax evasion committed by an organization.
BitRiver, a dominant player in the global mining sector, operates massive data centers primarily utilizing surplus hydroelectric power in regions like Siberia. The company has frequently emphasized its role in promoting environmentally sustainable crypto mining within Russia.
While official confirmation from law enforcement agencies remains pending, the reports indicate that the alleged tax evasion involves substantial figures, impacting federal revenue. The detention of Runets comes amid increased scrutiny and a tightening regulatory environment for the fast-growing Russian cryptocurrency industry.
In response to the allegations, BitRiver has released a statement confirming that an investigation is underway but has strongly denied any wrongdoing. The company asserts that all financial activities and tax declarations have been conducted in full compliance with Russian law, describing the situation as a potential misunderstanding. The firm has pledged full cooperation with authorities to swiftly resolve the matter and maintain the continuity of its operations.
Source: BitRiver CEO arrested for alleged tax concealment: Reports
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