The Seattle Federal Court gave the HashFlare founders time served after 16 months in custody, alongside a fine of 25,000 USD and 360 hours of community service. Prosecutors sought a 10-year jail term, arguing that this was the largest fraud case in Seattle’s history.
The fraudulent operations affected 440,000 customers, misleading them into losses over 577 million USD. The court noted that many customers had recovered funds, with the founders arguing that the losses were not significant considering the refunds available.
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