{"id":52468,"date":"2026-10-02T14:30:48","date_gmt":"2026-10-02T14:30:48","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=52468"},"modified":"2026-10-02T14:30:48","modified_gmt":"2026-10-02T14:30:48","slug":"80000000-in-jpmorgan-chase-and-wells-fargo-belonging-to-montana-payments-firm-abruptly-seized-over-potential-fraud","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=52468","title":{"rendered":"$80,000,000+ in JPMorgan Chase and Wells Fargo Belonging to Montana Payments Firm Abruptly Seized Over Potential Fraud"},"content":{"rendered":"

\"\"<\/p>\n

U.S. prosecutors have seized nearly $84 million from bank accounts and cryptocurrency wallets tied to a Montana payments firm linked to Tether.<\/p>\n

The civil forfeiture targets Capstone, a money services business that allegedly posed as an information technology company to open accounts at major banks while moving money for crypto firms, reports<\/a> Reuters.<\/p>\n

Court filings say Capstone, registered in Montana, processed payments for two crypto companies through a bank in Dominica. Prosecutors say the firm also ran a scheme that converted fraud proceeds into crypto by posing as FBI agents.<\/p>\n

Nearly $81 million was seized from Capstone accounts at Wells Fargo and about $2 million from an account at JPMorgan Chase. Roughly $1.2 million worth of Tether\u2019s dollar-pegged token was taken as well, according to the July filing first reported by The Information.<\/p>\n

Tether said it was a customer of the Dominica bank and that its assets there were limited. A spokesperson addressed Capstone\u2019s alleged conduct.<\/p>\n

\u201cTether had no knowledge of the conduct by Capstone alleged by the Department of Justice.\u201d<\/em><\/p>\n

The Justice Department did not allege wrongdoing by Tether or the other firms involved. Spokespeople for Wells Fargo and JPMorgan declined to comment.<\/p>\n

A lawyer for Capstone told Reuters the firm denies wrongdoing and plans to challenge the complaint.<\/p>\n

Tether issues USDT, a dollar-pegged cryptocurrency used to move value on crypto networks.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

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The post $80,000,000+ in JPMorgan Chase and Wells Fargo Belonging to Montana Payments Firm Abruptly Seized Over Potential Fraud<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

U.S. prosecutors have seized nearly $84 million from bank accounts and cryptocurrency wallets tied to a Montana payments firm linked to Tether. The civil forfeiture targets Capstone, a money services business that allegedly posed as an information technology company to open accounts at major banks while moving money for crypto firms, reports Reuters. Court filings […]<\/p>\n","protected":false},"author":1,"featured_media":52469,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-52468","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\n$80,000,000+ in JPMorgan Chase and Wells Fargo Belonging to Montana Payments Firm Abruptly Seized Over Potential Fraud - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=52468\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$80,000,000+ in JPMorgan Chase and Wells Fargo Belonging to Montana Payments Firm Abruptly Seized Over Potential Fraud - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"U.S. prosecutors have seized nearly $84 million from bank accounts and cryptocurrency wallets tied to a Montana payments firm linked to Tether. 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