Shocking news: Three founders of IHS (IH Bit) arrested for money laundering and market manipulation

Three founders of Mongolian company IH Bit, the title sponsor of cybersports club IHC Esports, were arrested by police on suspicion of illegal actions with money. This happened after the launch of the cryptocurrency Inflation Hedging Coin, which brought the company 30 billion Mongolian Tugriks. However, these funds were later misappropriated by the owners of the company, which was the basis for their arrest. Due to this, the price of the cryptocurrency fell by 96.82%.

IHC Esports, which owns PUBG Mobile and CS:GO lineups, was founded in December 2021 with the support of IH Bit. Recently, IHC’s CS:GO lineup placed 9-12 at IEM Katowice 2023. Club representatives have not yet commented on the situation with their partners.