Israeli police say Moshe Hogeg engaged in $290M crypto fraud, recommend charges

Moshe Hogeg used to own an Israeli soccer team, which he put up for sale in 2021 shortly before his initial arrest


RaffMaster/Shutterstock modified by Blockworks


Following more than two years of investigation, Israeli police told prosecutors that they should charge Moshe Hogeg, a businessman behind a number of crypto startups over the years, for his role in an alleged $290 million crypto scam. 

The police claim that Hogeg raised the inordinate sum of money from Israelis and investors across the world with the pretense of funding four separate crypto projects, the Times of Israel reported Wednesday.

Instead of doing that, Hogeg lined his own pockets during 2017 and 2018, the police say. 

Hogeg was involved in a project with blockchain smartphone startup Sirin Labs. While Sirin Labs is still afloat and selling phones, Hogeg was sued by Foxconn for nearly $6 million in 2020 for not paying manufacturing bills. 

Police interviewed around 180 people who were involved. Their dozens of searches yielded 900 pieces of evidence, money and property, the Times of Israel reported. 

Following their investigation, police have leveled multiple accusations against Hogeg. These include aggravated fraud, unauthorized theft, falsification of corporate documents, forgery, money laundering, and tax violations, among others.

Hogeg’s troubles with Israeli authorities began in 2021 when he was arrested after police suspected his involvement in fraud and sex crimes. Hogeg, who was released into house arrest a month later, denies all the accusations against him.

Hogeg’s most recent involvement in the crypto space appears to be with Tomi, a Web3 company focused on decentralization and free speech. Hogeg identifies himself as a cofounder of Tomi, and in a post on X from July, added that he would “remain an advisor and investor.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Permissionless is a conference for founders, application developers, and users. Come meet the next generation of people building and using crypto.

recent research

Research Report Templates (1).png


Solana Mobile is a highly ambitious foray into the mobile consumer hardware market, seeking to open up a crypto-native distribution channel for mobile-first applications. The market for Solana Mobile devices has demonstrated a phenomenon whereby external market actors (e.g. Solana-native projects) continuously underwrite subsidies to Mobile consumers. The value of these subsidies, coming in the form of airdrops, trial programs, and exclusive NFT mints, have consistently covered the cost of the phone and generated positive returns for consumers. Given this trend in subsidies, the unit economics in the market for Mobile devices, and the initial growth rate and trajectory of sales, it should be expected that Solana mobile can clear 1M to 10M units over the coming years. As more devices circulate amongst users, Solana Mobile presents a promising venue for the emergence of killer-applications uniquely enabled by this mobile-first, crypto-native distribution channel.


Plus, a look into Lighting Labs’ newest feature


Crypto’s Wild West era is over — it’s time to embrace regulation to secure the future of digital assets


Plus, Solana has now surpassed Ethereum in trailing 30-day decentralized exchange volume


Polymarket betters say Kamala Harris has better odds than Biden of winning against Trump


Bitcoin’s down Tuesday, while ETH-correlated assets like ENS and ARB see growth