Igor Runets, the founder of BitRiver and a key figure in Russia’s crypto mining scene, has been moved from house arrest to pretrial detention after facing fraud charges linked to a $12.5 million equipment deal gone sour. Moscow’s Zamoskvoretsky District Court ruled on July 22, 2026, that Runets must remain in custody for at least two months amid allegations that he never intended to deliver the promised mining hardware.
Details of the Fraud Case
Runets’ company, Fox, signed a contract in 2023 to supply crypto mining equipment to a firm connected to Oleg Deripaska’s industrial group, reportedly En+. While the buyer transferred a hefty $7.9 million upfront, the equipment failed to arrive within the agreed 32-day window. Prosecutors argue this was no simple delay or business mishap. Instead, they claim Runets orchestrated a deliberate scheme to defraud, diverting the funds for personal use rather than fulfilling the contract.
This accusation elevates the matter from a civil dispute to criminal fraud, falling under Part 4 of Article 159 of the Russian Criminal Code. The charge targets fraud committed on a large scale, often involving organized groups. Runets’ legal troubles mark a significant blow to BitRiver, a major player in Russian crypto mining, and raise concerns about transparency and trust in the country’s crypto industry.
