Philippines freezes 25 crypto wallets tied to flood scandal
A Philippine court froze crypto wallets and other assets tied to a flood-control corruption probe involving an unnamed lawmaker. The action covered wallets, bank accounts, and other property, while investigators also traced suspected funds through companies, banks, a money service business, and a virtual-asset platform.
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People linked to the frozen wallets and accounts are affected now because those assets have been placed under a court order and cannot be treated as normal holdings. The same action also puts more attention on digital assets inside corruption cases, alongside bank accounts and other property tied to the probe.
In practice, this means funds that had been moved across wallets, banks, a money service business, and a virtual-asset platform are now part of a formal freeze rather than ordinary transfers. What remains the same is that the lawmaker has not been named, and the wallet addresses and crypto holdings have not been disclosed.
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