BitRiver Founder Igor Runets Jailed in Billion-Ruble Fraud Probe

The Zamoskvoretsky District Court’s July 22 ruling marks a shift from house arrest to custody for Runets, who faces charges under Part 4 of Article 159 of the Russian Criminal Code regarding large-scale fraud. Investigators claim that in 2023, Fox Group contracted to supply over $7.9 million worth of Antminer S19k Pro units to Infrastructure of Siberia, a unit of En+ Group, but failed to fulfill the order or return the funds.

This criminal case follows a long-running commercial dispute between the two parties. In April 2025, an Irkutsk arbitration court ordered Fox Group to repay 954.4 million rubles to Infrastructure of Siberia. While Runets previously contested the ruling, insisting the equipment was delivered and pledging to appeal, the current prosecution maintains that the defendant never intended to honor the contract.

Financial instability has plagued the venture, with Fox Group entering bankruptcy monitoring in February 2026 and subsequent liquidation proceedings in May. Beyond the equipment dispute, Runets has faced tax-related allegations, leading investigators to consolidate multiple matters into a broader case. As the investigation continues, authorities have frozen his ownership interests in Fox Group and associated entities. BitRiver, which was sanctioned by the U.S. Treasury in 2022 for its role in monetizing Russian energy resources, remains under intense scrutiny as the insolvency proceedings move forward.