Crypto

Indian Harbor Insurance Company et al v. Alexander Mashinsky et al: Complaint (‘Celsius Network/D&O Coverage’)

April 22, 2025

Complaint for Interpleader in Indian Harbor Insurance Company, Berkley Insurance Company, and QBE Insurance Corporation v. Alexander Mashinsky, Shlomi Daniel Leon, Aliza Landes, Hanoch Goldstein, Rod Bolger, Rodney Sunada-Wong, Kristine Meehan, Roni Cohen-Pavon, Shiran Kleiderman, Harumi Urata-Thompson, Johannes Treutler, Jeremie Beaudry, Jason Perman, and parties unknown at the U.S. District Court for the Southern District of New York.

USA v. $2.7M: Forfeiture Complaint (‘KuCoin Proceeds’)

April 14, 2025

Forfeiture Complaint regarding $2.7 million seized from Chinese nationals Chun Gan and Ke Tang, who allegedly operated "an online cryptocurrency exchange and trading platform" known as KuCoin in USA v. $2,711,365 at the U.S. District Court for the Southern District of New York.

Gryphon Digital Mining Inc. v. K&L Gates LLP et al: Complaint (‘Legal Malpractice’)

April 14, 2025

Complaint alleging "improper billing practices" that "resulted in Gryphon being overcharged by more than one million dollars" in Gryphon Digital Mining Inc., described as a "bitcoin mining company and industry leader in environmentally responsible bitcoin mining" v. K&L Gates LLP and Robert Honeywell at the U.S. District Court for the Southern District of New York.

HASH Asset Management Ltd. v. DMA Labs Inc. et al: Complaint (‘$16.2M Crypto Yield-Earning Fraud’)

April 8, 2025

Complaint alleging "fraud, breach of contract, breach of fiduciary duty, conversion and other torts stemming from Defendants' fraudulent scheme that resulted in over $16.2 million in losses to the Plaintiff" in HASH Asset Management Ltd., of the Cayman Islands v. DMA Labs, Inc., ICHI Foundation, of the Cayman Islands; Nick Poore, Bryan Gross, Tyler Christian Pinter, and Julian Brand, a.k.a. Julian Finch-Brand, at the Court of Chancery of the State of Delaware.

USA v. 330,000.026094 USDT: Forfeiture Complaint (‘Crypto Investment Fraud Schemes’)

April 1, 2025

Forfeiture Complaint regarding crypto allegedly traceable to "investment fraud scams" in USA v. 330,000.026094 USDT at the U.S. District Court for the Eastern District of Virginia.

USA v. 852,654.047192 USDT et al: Forfeiture Complaint (‘$5M Pig Butchering Fraud’)

April 1, 2025

Forfeiture Complaint regarding crypto allegedly traceable to "investment fraud scams" in USA v. 852,654.047192 USDT, 105,553.680342 USDT, and 1,013,192.066449 USDT at the U.S. District Court for the Eastern District of Virginia.

Crypto Intelligence at OffshoreAlert Miami 2025

April 1, 2025

Crypto intelligence takes the stage at OffshoreAlert Miami this month. From regulation to recovery, we're covering it all with experts from Kroll, Wave Digital Assets, BDO & AlixPartners. April 27-29, 2025, Miami Beach, Florida.

Christopher DiFonzo v. Unicoin Inc. et al: Complaint (‘$225K Unpaid Compensation’)

March 28, 2025

Complaint alleging breach of contract in Christopher DiFonzo, described as a resident of Oakville, Ontario, Canada who worked as "Chief Commercial Officer" of the corporate defendant v. Unicoin Inc., described as "an early-stage startup cryptocurrency company", and Alexander Konanykhin, described as "the founder and CEO of Unicoin", at the U.S. District Court for the Southern District of New York.

USA v. Tether Tokens: Forfeiture Complaint (‘Pig Butchering Fraud Proceeds’)

March 27, 2025

Forfeiture Complaint regarding crypto allegedly traceable to pig butchering scams in USA v. Tether Tokes at the U.S. District Court for the Western District of Pennsylvania.

USA v. $22.8M Crypto: Forfeiture Complaint (‘Fraud Proceeds/Gotbit Consulting & Aleksei Andriunin’)

March 27, 2025

Forfeiture Complaint regarding crypto valued at $22.8 million allegedly traceable to a fraud involving Gotbit Consulting LLC, of Belize, and Aleksei Andriunin in USA v. USDT and USDC at the U.S. District Court for the District of Massachusetts.

Blockchain firm Chainalysis sued by bankrupt crypto lender Celsius over ‘sham audit confirming $3.3B AUM’

March 23, 2025

Blockchain analysis firm Chainalysis is being sued by the litigation administrators of bankrupt crypto lender Celsius Network's entities in England and the United States for allegedly assisting "one of the biggest cons in cryptocurrency" by "falsely claiming" in 2020 it had conducted an audit that confirmed Celsius had $3.3 billion in assets under management.

Celsius Network LLC et al v. Chainalysis Inc.: Complaint (‘$3.3B AUM Sham Audit’)

March 22, 2025

Complaint for allegedly assisting "one of the biggest cons in cryptocurrency history" in Celsius Network LLC, of Delaware, USA; Celsius Network, Inc., of Delaware, USA, and Celsius Network Limited, of England, by and through the Blockchain Recovery Investment Consortium, LLC, acting in its capacity as the Complex Asset Recovery Manager and Litigation Administrator v. Chainalysis, Inc. at the U.S. Bankruptcy Court for the Southern District of New York.

USA v. 519803.53164 USDT et al: Forfeiture Complaint (‘$15M Extortion’)

March 21, 2025

Forfeiture Complaint regarding crypto allegedly traceable to a $15 million extortion payment in USA v. 519803.53164 USDT and 1135.508 XMR at the U.S. District Court for the District of Nevada.

Wincent Investment Fund PCC Ltd. v. Binance.US: Discovery Application (Gibraltar)

March 17, 2025

Application by Wincent Investment Fund PCC Ltd., of Gibraltar, described as "a high frequency trading algorithmic market maker", to take discovery from BAM Trading Services Inc., trading as Binance.US, for use in legal proceedings alleging "cryptocurrency exchange XT.com misappropriated Wincent’s funds", filed at the U.S. District Court for the Southern District of Florida.

USA v. 316 Bitcoin: Forfeiture Complaint (‘Jonathan Warren Money Laundering’)

March 13, 2025

Forfeiture Complaint regarding crypto traceable to alleged money laundering by Jonathan Warren in USA v. 316 Bitcoin at the U.S. District Court for the Southern District of New York.

Mandar Mirashi v. 521.99931468 Bitcoin et al: Complaint (‘$40M Crypto Theft’)

March 12, 2025

Complaint alleging the theft by hacking o "$40 million in Bitcoin" in Mandar Mirashi v. John Doe, 521.99931468 Bitcoin, FixedFloat, Kraken, ChangeNow, exch.cx, TradeOgre, and John Doe 2 at the U.S. District Court for the District of New Jersey.

AC Holding Ltd.: ‘Court Supervision’ Petition (‘CIMA-Registered Virtual Asset Service Provider’)

March 11, 2025

Petition for Court Supervision of a Voluntary Liquidation in the matter of AC Holding Limited (in Voluntary Liquidation), described as "a CIMA registered Virtual Asset Service Provider with four subsidiaries located in the United Arab Emirates, Switzerland, Australia and the United States of America", at the Grand Court of the Cayman Islands.

USA v. $23M in Assorted Crypto: Forfeiture Complaint (‘$149M Crypto Theft & Laundering’)

March 6, 2025

Forfeiture Complaint in USA v. Approximately $23,604,815.09 allegedly traceable to theft in Assorted Cryptocurrencies at the U.S. District Court for the Northern District of California.

Deltec Bank sues digital platform provider Ibanera & its CEO, Michael Carbonara, for ‘$18M theft’

March 4, 2025

Bahamas-based Deltec Bank & Trust Ltd. has sued the Wyoming and Singapore operations of digital banking platform Ibanera and its CEO, Michael Carbonara, at federal court in Florida for allegedly stealing $18 million.

Eric Evans v. BlofinTYU et al: Complaint (‘$896K Pig Butchering Fraud’)

March 3, 2025

Complaint in Eric Evans v. BlofinTYU, described as "a fraudulent cryptocurrency-investment platform" whose location is "unknown"; Aubree Hanson, "who claims to be a citizen of Japan residing in Evanston, Illinois"; Zedxion Exchange Ltd., described as "a decentralized cryptocurrency exchange registered in the United Kingdom as Zedxion Exchange Limited", and Elizabeth Newman, described as "a citizen of the Dominican Republic and resides in Dubai, UAE", at the U.S. District Court for the Eastern District of Texas.

Deltec Bank & Trust Ltd. v. Michael Carbonara et al: Complaint (‘$18M Theft’)

March 3, 2025

Complaint alleging theft and conversion by a digital banking platform in Deltec Bank & Trust Limited, of the Bahamas v. Michael Carbonara, Ibanera LLC, and Ibanera Private Limited, of Singapore, at the U.S, District Court for the Southern District of Florida.

Florida Department of Legal Affairs v. Nest Services Cryptocurrency: Motion for Probable Cause (‘SpireBit Fraud’)

February 27, 2025

Motion for Probable Cause to seize crypto linked to an alleged fraud by SpireBit in Florida Department of Legal Affairs v. Nest Services Cryptocurrency at the Circuit Court for the Eleventh Judicial Circuit, In and for Miami-Dade County, Florida, USA.

USA v. 8.2M Tether: Forfeiture Complaint (‘Fraud & Crypto Laundering’)

February 27, 2025

Forfeiture Complaint regarding crypto allegedly traceable to "confidence fraud scams perpetrated on victims throughout the United States" in USA v. 4,340,000 Tether, 3,290,000 Tether, and 577,578 Tether at the U.S. District Court for the Northern District of Ohio.

ZK Enpachi Foundation v. Yaroslav Pshenitsyn et al: Complaint (‘Accounting/$1.5M Loss’)

February 26, 2025

Writ of Summons and Statement of Claim in ZK Enpachi Foundation v. Yaroslav Vladimirovich Pshenitsyn, Jacques Patrick Adam, Mugen DAO Advisors, and Cartan Advisors at the Grand Court of the Cayman Islands.

OffshoreAlert Bangkok Conference Next Week

February 25, 2025

OffshoreAlert's second annual Asia conference on intelligence, investigations, and recovery will take place on March 5-6 at the magnificent Siam Kempinski Hotel Bangkok, which is a 5-star luxury resort in the heart of the city, near some of Asia’s finest restaurants, stores, and nightlife. The networking possibilities are endless.

USA v. OKX: Criminal Judgment ($420M)

February 24, 2025

Consent Preliminary Order of Forfeiture/Money Judgment in the amount of $420 million in USA v. Aux Cayes Fintech Co. Ltd., d.b.a. OKEx, d.b.a. OKX, described as a Seychelles-domiciled operator of "one of the highest volume cryptocurrency exchange and trading platforms in the world", at the U.S. District Court for the Southern District of New York.

USA v. OKX: Criminal Information (‘Unlicensed Money Transmitter’)

February 24, 2025

Criminal Information alleging the operation of an unlicensed money transmitting business in USA v. Aux Cayes Fintech Co. Ltd., d.b.a. OKEx, d.b.a. OKX, described as a Seychelles-domiciled operator of "one of the highest volume cryptocurrency exchange and trading platforms in the world", at the U.S. District Court for the Southern District of New York.

Cayman court asked to supervise liquidation of AXIA crypto group amid ‘$41M fraud’ allegations

February 21, 2025

In anticipation of "legal challenges" from creditors, the Voluntary Liquidators of two Cayman Islands entities that are part of the AXIA Group which raised $41 million from investors for a crypto project that collapsed following regulatory action in Canada and a securities fraud complaint in the United States have asked a Cayman court to supervise the liquidation.

ANF MergeCo Ltd.: ‘Court Supervision’ Petition (Cayman Islands)

February 18, 2025

Petition for Court Supervision of a Voluntary Liquidation in the matter of ANF MergeCo Ltd. (in Voluntary Liquidation), which "was formed principally for the purpose of pooling or substantively combining, six (now five) companies (Merger) within the wider AXIA group of companies", at the Grand Court of the Cayman Islands.

AXIA Network Foundation: ‘Court Supervision’ Petition (Cayman Islands)

February 18, 2025

Petition for Court Supervision of a Voluntary Liquidation in the matter of AXIA Network Foundation (in Voluntary Liquidation), which "was originally founded for the purpose of creating and developing an inclusive digital token structure", at the Grand Court of the Cayman Islands.

Wenduo Guo v. Brian Armstrong et al: ‘Shareholder Derivative’ Complaint (Coinbase Global)

February 18, 2025

Shareholder Derivative Complaint alleging breach of fiduciary duties, and securities law violations in Wenduo Guo, derivatively and on behalf of nominal defendant Coinbase Global Inc. v. Brian Armstrong, Frederick Ernest Ehrsham III, Fred Wilson, Marc L. Andreessen, Kelly A. Kramer, Gokul Rajaram, Tobias Lütke, Kathryn Haun, Alesia J. Haas, Emilie Choi, Paul Grewal, and Jennifer N. Jones, as defendants, and Coinbase Global Inc., as nominal defendant, at the U.S. District Court for the District of New Jersey.

Intelligence Briefings on China & Hong Kong at OffshoreAlert Bangkok

February 18, 2025

Gain critical intelligence on China & Hong Kong at OffshoreAlert Bangkok. Join top experts on March 5-6 at the 5-star Siam Kempinski Hotel for high-level briefings on transnational crime, AI, crypto investigations, asset recovery, and more. Secure your spot now at www.oabangkok.com.

Bahamas-based Deltec Bank and Trust & U.S. Gov’t fight for ownership of $13.5M ‘crypto fraud proceeds’

February 18, 2025

Bahamas-based Deltec Bank and Trust is attempting to stop the U.S. Government from taking ownership of $13.5 million that was seized from Deltec Bank's U.S. correspondent account 18 months ago because it was allegedly traceable to crypto fraud and laundering.

Agenda Launch for OffshoreAlert Miami 2025

February 14, 2025

OffshoreAlert Miami’s 2025 agenda just dropped—don’t miss it! From Black Cube’s “Dark Arts” session to intelligence briefings on BVI, Cayman, and China, this is the event you can’t afford to miss. And because it’s Miami, the timing couldn’t be better—Lionel Messi’s Inter Miami, Formula 1, and the NBA Playoffs are all happening around the same time. Join us April 27-29 at The Ritz-Carlton, South Beach. Register by March 21 to save $300.

Q6 Intelligence LLC v. Binance Holdings Ltd.: Notice of Removal (‘$155K Breach of Contract’)

February 8, 2025

Notice of Removal, including a copy of the complaint for $155,250 alleging breach of contract, in Q6 Intelligence LLC, described as "an e-crime intelligence company that performs continuous monitoring and analysis of public and restricted data to proactively identify and contain cyber and financial threats" v. Binance Holdings Limited, of the Cayman Islands, at the U.S. District Court for the Southern District of Florida.

Donald Fuller v. PZcoin.io et al: Complaint (‘$1.2M Pig Butchering Fraud’)

February 4, 2025

Complaint in Donald Fuller v. Hannah Smith, PZcoin.io, Anthony Zhou, Harru King Law Firm, Liante Industrial Co. Limited, Wei Si, Yehen Trade Co. Limited, Fen Chen, Wen Wen Trading Inc., Wen Shen, DBS Bank (Hong Kong) Limited, Yan Xu, and John Does 1-20 at the U.S. District Court for the Eastern District of Texas.

USA v. $83.2M: Forfeiture Complaint (‘Fraud & Money Laundering’)

February 3, 2025

Forfeiture Complaint regarding cash and crypto seized from accounts at PNC Bank and Coinbase that are allegedly associated with fraud and money laundering in USA v. $13.2 million and $69.9 million USD Coin at the U.S. District Court for the Southern District of Texas.

Counsel for suspected $5.5M+ crypto embezzler Thomas Braziel accused of frustrating investigation into ‘diverted funds’

January 31, 2025

Counsel for distressed crypto investor Thomas Braziel - New York law firm Amini LLC and one of its attorneys, Jeffrey Chubak - have allegedly failed to respond to subpoenas from the new Receiver of Fund.com, Inc., who is trying to find out what happened to millions of dollars Braziel is suspected of embezzling from the firm while serving as its Receiver from 2016 until he was removed by a Delaware Chancery Court judge in 2024.

Blockstream Corporation et al v. Innosilicon Technology Ltd.: Petition to Confirm Foreign Arbitral Award ($28.1M)

January 30, 2025

Petition to Confirm Foreign Arbitral Award regarding a Bitcoin mining dispute in Blockstream Corporation, of Montreal, Canada; Thigmotropism LLC, of California, USA, and Adam Back, a citizen of Malta v. Innosilicon Technology Ltd., of Wuhan, China, at the U.S. District Court for the Southern District of New York.

Diego Aguilar v. Baton Corporation Ltd. et al: Class Action Complaint (‘Pump.Fun Crypto Fraud’)

January 30, 2025

Class Action Complaint in Diego Aguilar v. Baton Corporation Ltd., d.b.a. Pump.Fun, of England; Alon Cohen, described as a resident of Germany; Dylan Kerler, described as a resident of England, and Noah Bernhard Hugo Tweedale, described as a resident of England, at the U.S. District Court for the Southern District of New York.

Richard Kim ‘misappropriated majority of assets’ from Cayman crypto start-up Zero Edge Corp. that raised $8.3M, say liquidators

January 30, 2025

Cayman Islands online crypto casino start-up Zero Edge Corp. raised $8.3 million from investors and the sale of tokens and then quickly collapsed after one of its founders - U.S. national Richard Kim - allegedly misappropriated most of its assets and disappeared, the company's liquidators claimed in a court filing.

MyChargeBack.com v. USA: USA’s Supplemental Motion for Summary Judgment (‘Related Sealed Criminal Matter’)

January 29, 2025

USA's Notice of Supplemental Motion for Summary Judgment in which it discloses "There is a related sealed criminal matter" in Cactil LLC, d.b.a. MyChargeBack.com v. USA at the U.S. District Court for the Southern District of California.

Bulgaria: Kraken (‘Crypto Investment Fraud’)

January 29, 2025

Application for the appointment of a Commissioner to collect evidence from Kraken - pursuant to a request for judicial assistance from Bulgaria - for a criminal investigation into "unknown subjects" for suspected fraud.

B.E. Capital Management Fund LP v. Fund.com Inc.: Receiver’s Second Quarterly Report

January 29, 2025

Second Quarterly Report of Fund.com, Inc. Receiver Russell Silberglied in B.E. Capital Management Fund LP v. Fund.com, Inc. at the Court of Chancery of the State of Delaware, USA.

USA v. $13.5M: Deltec Bank and Trust Ltd. ‘Ownership Interest’ Claim (‘Fraud Proceeds’)

January 27, 2025

"Ownership Interest" Claim by Deltec Bank and Trust Ltd., of the Bahamas, in USA v. $13,475,175.67 Seized From Mitsubishi UFJ Trust and Banking Corporation at the U.S. District Court for the Eastern District of Virginia.

Zero Edge Corp.: ‘Court Supervision’ Petition (‘Online Crypto Casino/Misappropriation’)

January 23, 2025

Petition for Court Supervision of a Voluntary Liquidation in the matter of Zero Edge Corp. (in Voluntary Liquidation), which "was in the early-stage development of an online cryptocurrency casino", at the Grand Court of the Cayman Islands.

Wincent Investment Fund PCC Ltd. v. Zendesk, Inc.: Discovery Application (Gibraltar)

January 23, 2025

Application by Wincent Investment Fund PCC Limited, of Gibraltar, described as "a high-frequency trading algorithmic market maker", to take discovery from Zendesk, Inc. for use in legal proceedings in an "appropriate jurisdiction" against XT.com crypto exchange for allegedly "misappropriating Wincent’s funds" in the amount of $900,000, filed at the U.S. District Court for the Northern District of California.

USA v. Virtual Currency Associated With Jimmy Idiagbon et al: Forfeiture Complaint (‘$1.6M Fraud’)

January 21, 2025

Forfeiture Complaint regarding the proceeds of an alleged $1.5 million fraud in USA v. Virtual Currency at Nest Services, d.b.a. Binance, in the names of Jimmy Shola Idiagbon and Chidubem Vera Anyaorah at the U.S. District Court for the Eastern District of New York.

USA v. $13.5M: Financial Interest Disclosure Statement (Deltec Bank and Trust)

January 17, 2025

Financial Interest Disclosure Statement by Deltec Bank and Trust, of the Bahamas, in USA v. $13,475,175.67 Seized From Mitsubishi UFJ Trust and Banking Corporation at the U.S. District Court for the Eastern District of Virginia.

SEC v. Nova Labs, Inc.: Complaint (‘$200M+ Crypto Offering Fraud’)

January 17, 2025

Complaint in U.S. Securities and Exchange Commission v. Nova Labs, Inc. at the U.S. District Court for the Southern District of New York.