Enforcement Actions

According to the Financial Times, Poland's state-owned oil refiner Orlen's Swiss subsidiary OTS lost approximately $345 million after attempting to purchase U.S.-sanctioned Venezuelan crude oil using stablecoin USDT in April 2024. Funds evaporated during multilayered intermediary transfers, and Vene

The United Arab Emirates Central Bank's one-year grace period for businesses to comply with Federal Decree-Law No. 6 of 2025 ends on September 16, placing financial and technology companies under a licensing and enforcement regime that can impose administrative fines of up to AED 1 billion ($272

According to CNBC, on September 15, the U.S. Attorney's Office for the Southern District of New York filed a civil forfeiture action seeking to seize over $61 million in cryptocurrency allegedly derived from Iran's circumvention of sanctions through crude oil and petroleum product sales. The funds w

According to WuBlockchain, Revolut exposed sensitive data of 680 customers recently after hackers impersonated a government agency to submit fraudulent data requests. The breached information includes passport details, bank account numbers, and Bitcoin activity. The UK Information Commissioner's

According to Sina Finance, on September 15, former relationship manager Lin Junxian of Bank of China (Asia) pleaded guilty to accepting over $470,000 in USDT bribes from a fintech employee and associates. He also admitted to forging multiple unauthorized documents to guarantee insurance-related

According to Jiangsu Securities Regulatory Bureau, on September 15, the regulator issued a risk warning against illegal financial activities conducted in the name of RWA (real-world assets). The bureau stated that some institutions and individuals have been promoting RWA concepts with claims of "ass

The U.S. Attorney’s Office for the Southern District of New York (SDNY) and the FBI New York Field Office announced on September 15 that they had filed a civil forfeiture action involving approximately $61 million in cryptocurrency. The complaint alleges that these funds were proceeds from the black-market sale of sanctioned Iranian crude oil and petroleum products. The complaint also alleges that the Iranian government used cryptocurrency networks in China and other regions to launder more than

Seventeen US state attorneys general led by New York Attorney General Letitia James announced opposition to the Clarity Act on May 14 (local time), forming a bipartisan coalition to preserve state enforcement authority over digital asset fraud. The attorneys general argue the bill would weaken state

According to New York Attorney General Letitia James, on September 14, 17 state attorneys general announced a bipartisan coalition opposing the Clarity Act. The coalition, which includes attorneys general from Arizona, California, Connecticut, and other states, expressed concerns that the

According to the New York Attorney General's office, New York Attorney General Letitia James led 18 state attorneys general in formally opposing the Clarity Act on September 14, warning that the legislation would weaken states' enforcement authority over cryptocurrency fraud and grant the SEC

President Trump accepted key ethics restrictions on a major cryptocurrency bill that would establish a new regulatory framework for digital assets. The agreement allows state attorneys general to take enforcement action on violations — not just the Justice Department — addressing Democratic

Revolut's data breach disclosed September 12 has escalated into an active extortion campaign, with attackers publishing stolen customer passports and verification selfies online and threatening daily releases until the fintech pays, Cointelegraph reported. The breach resulted from a fraudulent data

According to International Cyber Digest and Cointelegraph, on September 13, attackers who obtained Revolut customer data began publishing leaked identity documents and selfies online, threatening to release more data daily until the fintech pays a ransom. The threat actors wrote on Telegram: "We're

According to reporting, on Sunday, President Trump agreed to allow state attorneys general to enforce ethics provisions in the CLARITY Act, addressing a key Democratic demand ahead of Tuesday's Senate procedural vote. The updated 635-page proposal represents roughly 80% acceptance of a bipartisan et

According to Hui Gang Communications, a 70-year-old Hong Kong resident lost over HK$13 million in a cryptocurrency fraud scheme over the past week. The victim received unsolicited WhatsApp messages from someone posing as a Singapore-based crypto investment expert, instructing him to create a