Hashflare news 2019

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, in 2019, the company faced significant issues and controversies that led to a decline in its reputation and ultimately, its closure. Here are some of the key news and events related to HashFlare in 2019:

January 2019: HashFlare's parent company, HashCoin, announced that it was shutting down its cloud mining operations due to "unforeseen circumstances" and "market conditions." The company claimed that it was unable to continue operating due to the decline in cryptocurrency prices and the increasing competition in the cloud mining market.

February 2019: HashFlare's customers began to report that they were unable to access their accounts and that their mining contracts were being terminated. The company's website and social media channels went dark, and many customers were left with significant financial losses.

March 2019: A class-action lawsuit was filed against HashFlare and its parent company, HashCoin, alleging that the company had engaged in fraudulent activities and had failed to deliver on its promises to its customers.

April 2019: The Ukrainian authorities launched an investigation into HashFlare's activities, alleging that the company had engaged in illegal activities, including money laundering and tax evasion.

May 2019: HashFlare's website was taken down, and the company's social media channels were deleted. The company's customers were left with no way to contact the company or access their accounts.

June 2019: The Ukrainian authorities announced that they had seized HashFlare's assets and had frozen its bank accounts. The company's founder, Alexey Yaroslavsky, was also arrested and charged with fraud.

July 2019: The class-action lawsuit against HashFlare and its parent company was settled, with the company agreeing to pay $1.5 million to its customers.

August 2019: HashFlare's customers began to receive emails from the company's lawyers, informing them that their claims had been settled and that they would receive a portion of the $1.5 million settlement.

September 2019: The Ukrainian authorities announced that they had completed their investigation into HashFlare's activities and had found evidence of fraud and money laundering. The company's founder, Alexey Yaroslavsky, was sentenced to 7 years in prison.

October 2019: HashFlare's website was officially shut down, and the company's assets were liquidated. The company's customers were left with significant financial losses, and many were left without any way to recover their investments.

Overall, 2019 was a disastrous year for HashFlare, with the company facing significant financial and legal issues that ultimately led to its closure. The company's customers were left with significant financial losses, and many were left without any way to recover their investments.