Hashflare news
HashFlare is a cloud mining service that was launched in 2015 and was one of the most popular cloud mining platforms at the time. However, the company has been involved in several controversies and has faced numerous issues, including allegations of fraud and mismanagement. Here are some recent news updates about HashFlare:
- HashFlare's bankruptcy: In 2017, HashFlare filed for bankruptcy in the United States, citing financial difficulties and a decline in the value of cryptocurrencies. The company's assets were frozen, and its operations were shut down.
- Investor lawsuits: Several investors have filed lawsuits against HashFlare, alleging that the company made false promises about its mining capabilities and failed to deliver on its promises. The lawsuits are ongoing.
- SEC investigation: The US Securities and Exchange Commission (SEC) launched an investigation into HashFlare's activities in 2017, alleging that the company had violated securities laws by selling unregistered securities to investors.
- HashFlare's CEO arrested: In 2018, HashFlare's CEO, Igor Mangushev, was arrested in Ukraine on charges of fraud and embezzlement. The arrest was related to allegations that Mangushev had misused company funds and made false statements to investors.
- HashFlare's assets sold: In 2019, HashFlare's assets were sold at a public auction, with the proceeds going to pay off the company's debts. The sale did not include the company's intellectual property or its mining equipment.
- HashFlare's website shut down: In 2020, HashFlare's website was shut down, and the company's social media accounts were deleted. It is unclear what happened to the company's remaining assets or whether any further legal action will be taken against its former executives.
Overall, HashFlare's story is a cautionary tale about the risks involved in investing in cloud mining and the importance of doing thorough research and due diligence before investing in any company or project.