GoKawiilDOJ Seizes Bank Accounts Linked to Tether Amid Capstone Fraud Probe
The Financial Times reported that the US Department of Justice has seized millions of dollars in bank accounts and crypto wallets connected to Tether Limited, issuer of the Tether stablecoin. The seizures stem from an FBI investigation into Capstone, an unlicensed payment processor accused of running an elder-fraud scheme that funneled illicit funds into crypto, with the money reportedly moving through offshore bank EQIBank, which serviced both Tether and Bitfinex.
GoKawiil's interpretation of the reporting above, not reported fact.
The case could intensify regulatory scrutiny of stablecoins and their banking relationships even though Tether and Bitfinex say they were merely customers of EQIBank with no knowledge of the alleged fraud. If prosecutors trace illicit funds through legitimate crypto infrastructure, it may pressure exchanges and issuers to tighten oversight of intermediary financial partners.
- DOJ seized millions in accounts tied to Tether following an FBI probe into payment processor Capstone.
- Capstone allegedly posed as an IT firm and as FBI agents to defraud elderly victims, converting proceeds to crypto.
- Tether and Bitfinex say they only used EQIBank's services and deny knowledge of the alleged fraud.
Source: futurism.com — Joe Wilkins, 2026-09-25
Published there as: “Department of Justice Seizes Stablecoin Tether’s Bank Accounts”
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