Enforcement Actions

Freezes and seizures of cryptocurrency by the Scam Center Strike Force from Southeast Asian crime networks have topped $580 million, according to the U.S. Attorney for the District of Columbia. In an announcement Thursday, Jeanine Pirro stated that the force had made “significant progress” in

Tether froze 4.2 billion USDt in three years as regulators increased scrutiny on crypto crime. USDt supply fell by $2.7 billion in two months marking the sharpest drop since 2022. Authorities relied on Tether to blacklist wallets and restrict funds linked to fraud. Stablecoin issuer Teth

Tether has frozen approximately $4.2 billion in USDT linked to illegal activities, demonstrating its commitment to fighting crypto crime. The action, which hasn't destabilized USDT’s market, emphasizes compliance and enhances user trust in the stablecoin.

Allegations against Axiom Exchange reveal that Broox Bauer exploited internal dashboards to track private wallets for insider trading schemes, targeting high-volume traders. The lack of access controls raises significant security concerns, prompting calls for investigation.

Tether has frozen approximately $4.2 billion in Tether tokens in coordination with the U.S. Department of Justice's efforts against "pig butchering" scams and money laundering activities. The U.S. authorities recovered $61 million in Tether, indicating an increase in cryptocurrency money laundering activities, especially within Chinese-speaking communities. FATF urges countries to strengthen regulation to combat these types of financial crimes.

360 Group Founder Zhou Hongyi pointed out that the U.S. government’s handling of Bitcoin in the Chen Zhi case has many issues, emphasizing the hidden asset plundering motives behind it. Without any victims, the U.S. forms a closed loop through attacks and harvesting, taking the opportunity to seize others’ assets, demonstrating the far-reaching dangers of state-level attacks.

OpenAI has dismissed an employee for using non-public information obtained through work to engage in insider trading on prediction market platforms, violating the company's compliance policies. An on-chain analysis platform has reported that 77 suspicious transactions have been flagged, involving internal OpenAI information. The issue of insider trading in prediction markets continues to attract attention, and the misuse of internal information within the tech industry has become a new challenge.

Tether has frozen approximately $4.2 billion in USDT related to illegal activities, with $3.5 billion this year alone. They also collaborated with the U.S. Department of Justice to freeze $61 million linked to large-scale crypto fraud. USDT's circulating supply has surpassed $180 billion, reinforcing its status as the largest stablecoin. Tether can remotely freeze tokens at law enforcement's request to aid investigations and curb financial crime.

The Korean National Tax Service was targeted by unknown individuals who transferred 4 million Pre-Retogeum tokens, worth approximately $4.8 million, after releasing a photo containing the 12-word seed phrase for a Ledger hardware wallet. This incident exposed security vulnerabilities in government agencies' digital asset custody. Although the tokens have been returned, it highlights the need to strengthen digital asset protection.

Brad Garlinghouse, CEO of Ripple, revealed that former SEC Chairman Gary Gensler allegedly apologized to him regarding their lengthy legal battle. This exchange reportedly occurred during a digital asset policy meeting at the White House. Ripple challenged Gensler's enforcement strategy, winning a landmark ruling in 2023 that determined XRP is not a security. The legal dispute is expected to officially conclude in early 2025.

OpenAI has dismissed an employee for allegedly using insider information to conduct insider trading in prediction markets, violating company compliance policies. This is the first time a large tech company has fired an employee over insider trading, sparking concerns about regulation of prediction markets. On-chain data shows multiple suspicious transactions beyond that employee, which may indicate a broader insider information leak issue.

Tether announced on February 27 that it has frozen approximately $4.2 billion worth of cryptocurrency tokens, mainly due to involvement in "illegal activities." The freeze includes $61 million of USDT related to "pig butchering" scams. As a stablecoin issuer, Tether has the ability to remotely freeze specific wallets, demonstrating its centralized nature. Research indicates that cryptocurrency money laundering activities are rapidly increasing, and FATF has called for strengthened regulation to address the associated challenges.

New bill protects non-custodial developers from unfair prosecution. Clarifies that Section 1960 applies only to those who control customer funds. Bill draws a line between coders and money transmitters. Backers say it safeguards U.S. crypto innovation. US lawmakers have introduced the

Minnesota State Representative introduces HF 3642 bill, aiming to ban all Bitcoin ATMs within the state to address the rising issue of senior citizens being scammed. If passed, this bill will make Minnesota the first state in the U.S. to implement such a ban. Currently, there are approximately 430 of these machines in the state, and related scam cases continue to rise, prompting lawmakers to seek stricter measures to ensure public safety.

PANews February 28 News, according to WIRED, OpenAI recently laid off an employee for trading on prediction market platforms such as Polymarket and Kalshi based on internal information. The report states that the employee used non-public information obtained through their work at OpenAI to bet on related contracts, allegedly constituting "insider trading" and violating company compliance policies.

Bitcoin fell back to $65,850 under the influence of US PPI data. As Morgan Stanley actively invests in digital assets and the effectiveness of US anti-fraud enforcement becomes evident, market sentiment has been hit. The rise in PPI has sparked inflation concerns, affecting US stock performance and leading to liquidity shortages in Bitcoin and other cryptocurrencies.

Odaily Planet Daily News: The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, stated that the SEC is re-accelerating its efforts in the crypto regulation field to make up for previous shortcomings in policy development. He pointed out at an event at the University of Texas that regulatory agencies had failed to adapt in a timely manner to industry innovation trends. Atkins said that since the Trump administration took office, the SEC's stance has become more open, with the formation of a crypto task force, the withdrawal of multiple enforcement cases, and the launch of the "Project Crypto" initiative to promote updates to the regulatory framework. He emphasized that, compared to short-term price fluctuations, more attention is being paid to the application prospects of distributed ledger technology in payment, clearing, and settlement systems. Additionally, the SEC has approved this week.

Ripple CEO Brad Garlinghouse alleged that former SEC Chair Gary Gensler apologized for the agency's prolonged battles against crypto during a meeting at the White House. This exchange, notable for its context, followed years of conflict, particularly regarding regulation and securities classification.

Sen. Elizabeth Warren is advocating for the rejection of World Liberty Financial's bank charter application, citing concerns over undisclosed foreign ownership and potential conflicts of interest linked to Trump's crypto venture. She demands transparency from regulators regarding stakeholders.

Experts who reviewed electronic devices seized as part of the ongoing probe on Libra, the token promoted by President Javir Milei, detected communications between Milei and Mauricio Novelli, one of the individuals linked to the token launch. Several messages in other conversations were erased. Lib