Igor Runets, the founder and CEO of BitRiver, a prominent Russian Bitcoin mining company, has been apprehended on suspicion of tax evasion. Court documents indicate that the arrest was made in Moscow, with the Zamoskvoretsky District Court handling the case.

BitRiver, established in Russia in 2017, is a major player in the cryptocurrency mining industry, operating large server farms that provide virtual currency mining capacity internationally. The company also has three offices across Russia. In 2021, BitRiver shifted legal ownership of its assets to a Switzerland-based holding company.

In April 2022, the U.S. Treasury Department sanctioned BitRiver for allegedly helping Russia monetize its natural resources and potentially evade sanctions. The Treasury claimed that BitRiver's operations helped Russia circumvent international restrictions. At the time, BitRiver denied these claims, asserting that it was a private company that did not assist the Russian Federation in circumventing sanctions. Runets stated that the sanctions were an attempt by the U.S. government to stifle competition and shift the global balance of power in favor of American companies.

The company also suggested it might pursue legal action against the U.S. Treasury, alleging unfair competition and a misrepresentation of BitRiver's activities. BitRiver claimed the sanctions damaged its public image and international business.

The arrest of Runets adds another layer of complexity to the ongoing scrutiny of cryptocurrency companies and their potential involvement in financial crimes. The case highlights the increasing regulatory pressure on the cryptocurrency industry and the determination of authorities to pursue individuals and entities suspected of using digital assets for illicit purposes. The investigation is ongoing, and further details are expected to emerge as the case progresses.