Philippines court freezes 25 crypto wallets in $1.88B flood-control corruption probe
- —Court froze 25 crypto wallets among 116 restrained accounts and assets
- —Flood-control corruption losses estimated at PHP 118 billion ($1.88 billion)
- —Greenpeace estimates PHP 560 billion ($8.9 billion) lost in 2025 alone
- —Chainalysis ranks Philippines among Southeast Asia's fastest-growing crypto markets
Why it matters: The case shows stablecoins and wallets becoming part of corruption money trails, raising pressure on VASPs and KYC enforcement.
Source: CoinGeek