ZachXBT: Hashflare Scam-Linked Address Moves $18.5M in ETH After 3.5 Years of Dormancy

CoinFeed, June 22 – According to ZachXBT, a wallet associated with the $575 million HashFlare investment scam transferred 10,600 ETH, worth approximately $18.5 million, about three hours ago after being dormant for 3.5 years. The funds were then moved from Ethereum to Bitcoin via HiFiSwap and Near Protocol’s Intents feature, and began being laundered using instant swap services. Previously, Hashflare co-founders Sergei Potapenko and Ivan Turõgin pleaded guilty in 2025 and forfeited $450 million in assets to the U.S. government.