Doj Seizes $84m From Capstone
Doj seizes $84m from payments firm capstone.
In brief
Doj seizes $84m from payments firm capstone. Doj seized $84m from capstone after alleging unlicensed money transmission and crypto fraud. Originally reported by Pymnts.
Doj Seizes $84m
The justice department seized $84 million from capstone, a montana-based payments business, alleging unlicensed money transmission and crypto fraud.
Capstone Alleged Fraud
Capstone allegedly moved money for dominica-based bank eqibank, helping scammers convert stolen cash into stablecoins across six states.
Tether And Bitfinex Response
Tether and bitfinex stated they had no knowledge of capstone’s alleged fraudulent conduct and that their assets held at eqibank were minimal.
Capstone Legal Action
Capstone denies wrongdoing and plans to challenge the doj’s civil asset forfeiture complaint by filing a motion to dismiss.
Eqibank Motion
Eqibank filed a motion seeking the seized funds, claiming it was misled by capstone and believed capstone was properly registered.
What Happens Next
Capstone aims to resolve the matter quickly after cooperating with the government’s investigation and challenging the doj’s allegations.
The short version
Doj seized $84m from capstone after alleging unlicensed money transmission and crypto fraud.
