Polybius ICO investors: file a claim to recover your lost crypto.

Polybius was a 2017 ICO launched by Sergei Potapenko and Ivan Turogin, the same individuals behind HashFlare. Investors were told Polybius would form a digital bank and pay dividends. DOJ says Polybius raised at least $25 million, never formed a bank, never paid dividends, and moved most of the money to accounts and wallets controlled by the founders.

Potapenko and Turogin were indicted in the Western District of Washington, extradited from Estonia, and each pleaded guilty on February 12, 2025 to one count of conspiracy to commit wire fraud in connection with the broader HashFlare fraud scheme, which included the Polybius offering. They were later sentenced to prison time, fines, and community service.

Yes. As part of their plea agreements, the defendants agreed to forfeit assets valued at more than $400 million at the time of seizure, including crypto, cash, real estate, vehicles, and mining equipment. DOJ has said forfeited assets will be available for a remission process to compensate victims.

Remission is the DOJ process for returning forfeited criminal proceeds to victims. A government-designated administrator typically notifies potential victims, collects claims and supporting evidence, verifies losses, and distributes funds. Filing directly with the government is free once the process opens.

That is the central question. The guilty pleas centered on the HashFlare mining fraud, while Polybius was not part of the counts of conviction. The risk is that the government defines the remission class around HashFlare customers and excludes Polybius ICO investors. We are organizing now so Polybius claimants can be documented and advocated for before eligibility rules are finalized.

DOJ remission often compensates victims based on dollar value at the time of the offense. For 2017 crypto investments, that difference can be significant. We believe victims who contributed crypto should be able to seek in-kind recovery or current-value treatment, but there is no guarantee the government will depart from its standard approach.

Timing is leverage. Decisions about who counts as a victim, how losses are valued, and whether crypto appreciation is recognized can be shaped before the official claim process is announced. Early intake also means evidence is gathered and organized before deadlines are running.

Polybius Recovery is operated by Tessera Systems, a claims-focused team led by Michael Bottjer and Louis d'Origny. The team has helped thousands of claimants navigate large recovery processes, including FTX Chapter 11 claims, House v NCAA settlement claims, and creditor liquidity matters involving Voyager, BlockFi, and Celsius.

No. This is a private claimant organizing effort. We are not affiliated with DOJ, FBI, the Polybius Foundation, HashFlare, Sergei Potapenko, Ivan Turogin, or any official remission administrator.

Yes. Proskauer Rose LLP has been retained as counsel to the organizing effort and advises on the remission process, claim presentation, and government engagement on behalf of the organized claimant group.

No. Proskauer Rose LLP serves as counsel to the organizing effort, not to individual claimants. Signing up does not create an attorney-client relationship between you and Proskauer. You are free to consult your own attorney for independent legal advice.

There is no upfront fee. We work on a contingency basis: one third of amounts actually recovered for you, as set out in a written engagement agreement. If you recover nothing, you owe nothing.

Yes. When DOJ opens the remission process, you should be able to file directly at no cost. Our role is to help organize Polybius investors, document evidence, track deadlines, and advocate for treatment that reflects the crypto actually invested.

Never. We do not need seed phrases, private keys, exchange passwords, remote wallet access, or any upfront crypto payment. Anyone asking for those things while claiming to represent us or the government should be treated as a scam.

The flow begins with basic intake and contact information. We then send an engagement letter, collect a structured claim questionnaire, verify identity through Sumsub, help reconstruct supporting evidence, track official remission notices, and coordinate claim filing.

Gather anything that supports your 2017 Polybius investment: transaction hashes, wallet addresses, ICO confirmation emails, exchange withdrawal records, PLBT token receipt records, bank or card statements, and any correspondence with Polybius. Partial records are still useful.

We do not know. DOJ has said remission details will be announced later, and large remission processes can take a long time from announcement to distribution. We will keep registered claimants informed as official notices are published.

No. Recovery depends on the remission process, available assets, eligibility rules, evidence, deadlines, and government decisions. We believe organized, well-documented claimants are better positioned, but no outcome can be promised.