ICIJ: Circle Faces Criminal Complaint in Wisconsin Over Refusal to Recover Scam Victim Funds An ICIJ investigation reported that law enforcement authorities in Wisconsin and New York accused Circle of refusing to assist in freezing or recovering scam victims’ USDC. Wisconsin prosecutors have filed a criminal complaint against Circle, alleging the company failed to comply with a court order to recover stolen assets. Circle called the complaint meritless, arguing it lacked the technical ability to comply and that the court lacked jurisdiction.

🚨 Another major fraud case has surfaced. Federal prosecutors allege Mahender Makhijani defrauded a bank of nearly $100 million using falsified records and forged documents. If convicted, he could face up to 30 years in federal prison. The crackdown on financial fraud continues🇺🇸

MALAYSIA SEIZES 75,000+ CRYPTO MINING RIGS IN POWER THEFT CRACKDOWN. Authorities have arrested 629 people since 2022 as part of a nationwide crackdown on illegal crypto mining operations tied to electricity theft.

⚖️ FinTech News: Block (parent company of Cash App) has agreed to a $45 MILLION settlement with US state regulators over false advertising claims. Regulators alleged the app misled users by heavily promoting "bank-like" protections. Block is paying up to settle but officially admits no wrongdoing. 💸📱 #CashApp #FinTech #Block #FinanceNews #WallStreet

1/ @circle, the $USDC issuer, is under fresh scrutiny over its handling of freeze-and-recovery cases after law enforcement in Wisconsin and New York raised concerns about its response to stolen stablecoins, per an 8 Jul ICIJ investigation.

INTERPOL: Global Fraud Bust Arrests 5,811; Suspect’s Crypto Wallet Processed $122.5M INTERPOL said Operation First Light 2026, spanning 97 countries and territories, resulted in 5,811 arrests and the interception of $293 million in illicit assets. Thai authorities uncovered a romance scam money laundering network that converted illicit proceeds into multiple cryptocurrencies and used cross-chain token swaps to obscure fund flows. One 20-year-old suspect’s digital wallet processed more than $122.5 million over a 10-month period. Separately, Palau deported 22 individuals accused of operating scam centers involving cryptocurrency and illegal gambling websites.

INTERPOL cracks down on massive cryptocurrency money laundering network, arresting over 5,800 people · Under INTERPOL’s global operation, more than 5,800 individuals linked to fraud and money laundering have been arrested · Authorities uncovered a large-scale cryptocurrency money laundering network exploiting cross-chain token swaps · A single suspect’s digital wallet processed over $122.5 million in just 10 months

[Topics in the Past Hour] ・ INTERPOL dismantles major cryptocurrency money laundering network, arresting over 5,800 individuals ・ Swift begins pilot operation of a 24/7 blockchain payment network with 17 banks ・ Polymarket launches perpetual futures trading for cryptocurrencies and traditional assets ・ S&P 500 put-call skew plunges to 0.71, hitting a record low ・ MegaETH’s TVL drops 59% in 24 hours, impacted by large withdrawals from Aave