Report: IHC founders arrested for fraud

Three founders of the IHC organization have been arrested for misappropriation of funds and laundering money gained through manipulation of the cryptocurrency market, according to a report by the leading Mongolian news outlet UB Post.

The detainees are suspected of fraud with the IHC cryptocurrency they created. Last year, they invested in the ZEUS club, which later rebranded and continued operations under the name IHC.

One of the suspects in the fraud case is Munkhjin Otgonbaatar, who was previously referred to as the CEO of IHC in media reports.

The IHC esports organization is best known for its CS:GO roster, which took part in two Majors in a row last year. Recently, the Mongolian squad scored unexpected victories over FURIA and Cloud9 at IEM Katowice 2023.