Russia's BitRiver founder Igor Runets detained over allegations of a 1 billion rouble fraud.

ChainCatcher report: According to Russian media bits.media, Igor Runets, founder of Russia’s largest mining company BitRiver, has been moved from house arrest to pretrial detention by the Zamoskvoretsky Court in Moscow over allegations of fraud involving 1 billion rubles, and must remain in custody for at least two months. The charges are based on Part 4 of Article 159 of the Russian Criminal Code—"particularly large-scale fraud committed by an organized group." The investigation alleges the case involves the supply of mining equipment, causing nearly 1 billion rubles in losses to metallurgical and energy companies under the En+ Group. Investigators requested Runets’ detention, citing the risk he may influence witnesses, and the court approved the request. Neither BitRiver representatives nor Runets’ lawyers have commented on the court’s decision; further developments will depend on equipment appraisals and witness testimonies from En+. In February, Russian law enforcement suspected Runets of concealing assets to evade taxes, leading to his arrest and subsequent house arrest on tax evasion charges. BitRiver now faces risks of bankruptcy and change of ownership, as its owner, Fox Group, has debts of approximately $9.2 million and assets insufficient to cover them, having already filed for bankruptcy.