Enforcement Actions

BlockFills, a Chicago-based cryptocurrency OTC trading platform, has filed for Chapter 11 bankruptcy protection due to $75 million in lending losses and has suspended customer withdrawals, leaving approximately 2,000 institutional clients in distress. Following the CEO's departure, creditors have filed lawsuits, the court has frozen certain assets, and experts believe the company is headed directly toward insolvency.

The Korean Financial Commission will deliberate on penalties against CEX A on March 16 for suspected violations of anti-money laundering obligations, with potential fines of 37 billion Korean won, which are heavier than those imposed on another exchange, CEX B.

Cryptocurrency lending platform BlockFills filed for Chapter 11 bankruptcy protection with the Delaware bankruptcy court on March 16, with estimated assets between $50 million and $100 million and liabilities between $100 million and $500 million. The company stated that this action will help stabilize operations, seek liquidity, and protect customer interests.

Argentina's President Milei is accused of involvement in a $5 million payment agreement linked to promoting the Libra token. The investigation revealed connections with Kelsier Ventures CEO Hayden Davis and intensive communications between Milei and Davis before the publication of relevant posts. Despite Milei's confirmation that there was no misconduct, related documents and call records have triggered a federal criminal investigation into his conduct.

An alleged draft for a $5 million economic agreement to secure the support of Argentine President Javier Milei for the people behind Libra has been recovered from a seized phone. The document indicates that an undetermined party would receive this money in three tranches. $5 Million Pact Draft

A federal judge dismissed RICO claims in a class-action lawsuit against pastor Eddy Alexandre, tied to a crypto Ponzi scheme. Victims can amend their complaint. Alexandre, guilty of commodities fraud, owes substantial penalties and restitution.

Argentina's President Milei is allegedly suspected of accepting a $5 million bribe in connection with promoting the LIBRA token. The evidence comes from digital forensics of the phone of cryptocurrency lobbyist Mauricio Novelli. Documents show the bribe was paid in three installments and included plans to have Milei deny statements related to the money.

On March 15, Tether froze 11,960,680 USDT on a Tron chain address using the blacklist function of smart contracts. This action typically stems from law enforcement requests related to money laundering and fraud. Over the past several years, Tether has cumulatively frozen more than $4.2 billion in USDT.

Gate News reports that on March 15, a certain South Korean CEX will undergo sanctions review on March 16. Since its unreported transaction volume exceeds another South Korean CEX, the market widely expects that fines against this exchange may exceed 35.2 billion Korean won, and some operational suspension periods may also be longer than 6 months.

Taiwan prosecutors indicted cryptocurrency exchange "BiJing" and 10 other individuals, including its operators, for allegedly collaborating with fraud rings to commit fraud and money laundering involving 46 victims and over 150 million yuan in fraudulent amounts. The Zhang siblings may face up to 12 years imprisonment.