ZachXBT: HashFlare Scam-Linked Wallet Transfers $18.5M in ETH After 3.5 Years of Inactivity

Odaily Planet Daily reported that according to ZachXBT's monitoring, a wallet associated with the $575 million HashFlare investment fraud case transferred out 10,600 ETH, worth approximately $18.5 million, about 3 hours ago after remaining dormant for 3.5 years. The funds were subsequently moved from Ethereum to Bitcoin via HiFiSwap and Near Protocol's Intents feature, and began using instant exchange services to launder the money. Previously, HashFlare co-founders Sergei Potapenko and Ivan Turogin pleaded guilty in 2025 and surrendered $450 million in assets to the U.S. government.