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Estonia
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Two Estonian citizens were arrested in Tallinn, Estonia, on an 18-count indictment for their alleged involvement in a $575 million cryptocurrency fraud and money laundering conspiracy, the U.S. Justice Department said on Monday, Reuters reported. Sergei Potapenko and Ivan Turõgin, both 37, allegedly defrauded hundreds of thousands of victims through a multi-faceted scheme, wherein they induced them to enter fraudulent equipment rental contracts with the defendants' cryptocurrency mining service called HashFlare, the department said in a statement.
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Estonia is suffering the worst inflation in the euro area, with consumer prices rising at an annual rate of nearly 22 percent, the Washington Post reported. This tiny Baltic nation, and its neighbors, Latvia and Lithuania, represent extreme examples of the price pressures sweeping Europe and confronting policymakers, executives and consumers with a challenge unseen for 40 years. Some Estonian employers must raise salaries several times each year. Others are retooling their operations to use less energy.