DK Pittsburgh Sports · Oct 28, 2019
Malkin calls reports of involvement in scam ‘garbage’
CRANBERRY, Pa. -- A report came out of Russia on Monday detailing Evgeni Malkin's involvement in a cryptocurrency startup that went awry.
According to the report by Sports.ru, Malkin invested $4 million in a blockchain (the technology behind cryptocurrency) startup. Malkin was named a co-founder and was used as the face of the company, but was not actually involved in the day-to-day work that was happening in Moscow.
The startup reportedly raised more than $10 million in funding from other investors to finance the project before ceasing operations. The development team was never paid a salary and is owed money. Malkin's involvement opens him up to potential lawsuits.