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[BUSINESS] · United States, Dominica · 17 sources

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Part of situation: U.S. asset seizure involving Capstone Ltd. and EQIBank (3 clusters)

Capstone Ltd. faces $84.2 million DOJ asset seizure

civil asset forfeiture unlicensed money transmission stablecoin Tether EQIBank

The U.S. Department of Justice has filed a civil forfeiture complaint to seize approximately $84.2 million in assets linked to Capstone Ltd., a Montana-based payments firm. Prosecutors allege Capstone operated as an unlicensed money transmitter in at least six states, misrepresenting itself to major banks, including Wells Fargo and JPMorgan Chase, as an IT services company to hide its true activities.

Court documents indicate that over $700 million passed through a single Wells Fargo account belonging to Capstone between March and December. A significant portion of these funds was allegedly processed on behalf of the cryptocurrency companies Tether and Bitfinex. Additionally, prosecutors claim Capstone facilitated the conversion of cash from impersonation fraud schemes targeting elderly citizens into stablecoins.

The seizure heavily impacts EQIBank, a digital bank licensed in Dominica that processed wire transfers for Tether’s USDT transactions. EQIBank reported that the frozen assets represent roughly 80% of its total monetary holdings, warning that the loss could lead to the institution's liquidation. A federal judge has already denied a motion by EQIBank to return the seized property.

Tether and Bitfinex have denied any knowledge of Capstone’s alleged fraudulent conduct, stating they were merely customers of EQIBank and that their exposure to the bank is minimal.

Entities

Bitfinex · Capstone Ltd. · EQIBank · Tether · U.S. Department of Justice

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

Az EQIBank vagyonának 80 százalékát lefoglalták – a Tethernek is van náluk számlája [www.kriptoworld.hu]
Công tố viên Mỹ muốn tịch thu 84,2 triệu USD liên quan tới Tether – Diễn Đàn Phổ Cập Blockchain [phocapblockchain.net]
Reservas de Tether: 114. 000 millones en deuda de EE. UU. [www.criptotendencias.com]
Tether : Les États-Unis saisissent 84 millions de dollars chez un intermédiaire bancaire [journalducoin.com]
U. S. Prosecutors Seek $84. 2 Million in Tether-Linked Funds | TokenPost [www.tokenpost.com]
Tether 合作銀行被美國凍結 8,900 萬鎂！USDT 保持錨定，但暴露穩定幣隱形風險 [www.blocktempo.com]
Tether: DOJ friert 84,2 Millionen Dollar ein [www.blogspan.net]
US seizes Capstone's bank accounts over alleged illegal transfers for Tether and Bitfinex [cryptobriefing.com]
Blocco fondi Tether Bitfinex: 84,2 milioni congelati [cryptonomist.ch]
US prosecutors seek $84. 2M tied to Tether-linked accounts [www.cryptopolitan.com]
Washington has $114 billion reasons to want Tether around [cryptoslate.com]
Tether Caught in $84M DOJ Seizure Through Its Banking Chain More Stories ETHNews [ethnews.com]
DOJ Seizes $84M From Tether-Linked Payment Processor Capstone [news.bitcoin.com]
US Seizes $84M Tied to Tether and Bitfinex in Major Banking Crackdown [coinpedia.org]
US Prosecutors Want $84. 2 Million From a Bank Tied to Tether [decrypt.co]
Department of Justice Seizes Stablecoin Tether's Bank Accounts [futurism.com]
Justice Department Seizes $84 Million From Payments Firm Capstone [www.pymnts.com]