A Moscow court docket has escalated detention measures towards Igor Runets, founding father of BitRiver, Russia’s largest crypto mining firm.
The Zamoskvoretsky District Court docket moved Runets from home arrest to a pretrial detention facility on Wednesday, July 29.
He should now spend at the very least two months in custody whereas investigators proceed constructing their case.
The fraud allegations
Prosecutors charged Runets underneath Half 4 of Article 159 of the Russian Felony Code, which covers large-scale fraud dedicated by an organized group.
Investigators allege the case brought about near 1 billion rubles in damages to En+, a bunch of Russian metallurgical and power corporations.
In response to investigators, an organization managed by Runets obtained full advance cost from an En+ subsidiary for mining gear.
The gear was by no means delivered, and the funds have been by no means returned.
Why the court docket tightened custody
Regulation enforcement officers pushed for the switch, citing each the size of the alleged damages and considerations that Runets may stress witnesses.
The court docket sided with investigators and granted the movement.
Representatives for BitRiver and legal professionals for Runets haven’t issued a public response to the ruling.
Investigators say the case will now hinge on gear examinations and witness testimony from En+.
This isn’t Runets’s first authorized bother in 2026, as authorities arrested him in February on suspicion of concealing belongings meant to cowl tax money owed.
BitRiver’s troubles deepen
The authorized case provides to a tough stretch for BitRiver, which has ranked first amongst Russian mining corporations by income.
Fox Group, BitRiver’s proprietor, is estimated to hold roughly $9.2 million in debt and has filed for chapter after figuring out it lacked ample funds or belongings to repay what it owes.