BitRiver legal and insolvency proceedings
The developments in this story so far, most recent first.
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· Development
Russia Detains BitRiver Founder Igor Runets on Fraud Charges
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· date approximate · Background
A regional arbitration court opened insolvency proceedings against BitRiver's controlling shareholder, Group of Companies Fox.
In February, a regional arbitration court opened insolvency proceedings against Group of Companies Fox, the controlling shareholder of BitRiver. Fox owns 98% of BitRiver’s authorized capital. [4]
The proceedings followed financial difficulties at BitRiver, which saw several of its crypto mining centers closed due to a six-year government ban across 10 regions. [3]
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· date approximate · Background
Igor Runets was detained and placed on house arrest on three charges of tax evasion.
In early 2026, Igor Runets, the founder of BitRiver, was placed under house arrest. This followed allegations related to tax evasion.
The criminal proceedings against Runets also involved 'large-scale' fraud charges. Reports indicate that he was accused of causing damages exceeding 1 billion rubles by failing to fulfill an equipment supply contract for a subsidiary of En+.
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· date approximate · Background
Igor Runets entered into an equipment supply contract worth $8 million that was never fulfilled.
In 2023, Igor Runets entered into an equipment supply contract valued at $8 million. The terms of the deal required that the equipment be delivered within a 32-day period.
The contract was established with a company belonging to an industrial group founded by Russian billionaire Oleg Deripaska. Although the buyer paid $7.9 million upfront for the equipment, the fulfillment of the contract never occurred.