🚨SOMETHING BIG JUST HAPPENED:

A wallet tied to a $577 MILLION crypto Ponzi just moved for the first time since 2022, and it got caught almost the second it did.
It traces back to HashFlare, a company that told hundreds of thousands of people it was mining Bitcoin and selling them a share of the profits. On paper it looked enormous. In reality it was running at less than one percent of the mining power it claimed, and by 2018 it needed 80,000 machines to back everything it had sold while owning around 164, most of them broken.
So when people asked to withdraw, the founders simply bought crypto on the open market to pay them and kept the illusion alive a little longer. That is the entire business, money from new believers quietly covering the old ones until the whole thing finally came apart.
The two founders, Sergei Potapenko and Ivan Turogin, pleaded guilty last year and forfeited over $450 MILLION to the US government, but not everything was found. One wallet holding $18.5 MILLION in Ethereum was never seized, and it sat completely untouched for three and a half years while the case played out.
This morning it woke up. Whoever holds the keys started turning the Ethereum into Bitcoin, pushing 10.6K $ETH through HiFiSwap, Near Intents and instant exchanges to break the trail and disappear.
It lasted minutes. Cyvers flagged the movement almost as soon as it started, and the funds are now being followed across every single hop.
Three and a half years of sitting perfectly quiet, and the one move they finally made was spotted before it could even finish.