Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

The Next GameStop? Meme Stock Traders Make Biggie-Size Bet on Wendy’s

29/06/2026

Polkadot’s Staking Overhaul Sparks Debate

29/06/2026

Aave Founder Warns UK Stablecoin Rules Could Push Issuers Abroad

29/06/2026
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    How Satoshi Outsmarted Quantum Computers in 2010

    29/06/2026

    Ex-IMF Economist on Bitcoin (BTC) Crash: ‘No Grifter Left Behind’

    29/06/2026

    Bitcoin Didn’t Lose to Gold, the Rotation Story Is Wrong: Analyst

    29/06/2026

    Analyst Argues the Fed Could Catch Everyone Off Guard and Explains How It Would Affect Bitcoin

    29/06/2026

    Joe Lubin Puts Ethereum’s Long‑Term Role in Focus and Calls It Systemically Important

    28/06/2026

    ETH Drops as Ethereum Foundation Cuts 20% of Staff

    28/06/2026

    $170M Ether longs liquidated as crypto market tumbles: Is ETH doomed?

    28/06/2026

    Ethereum Users Jump 86% as Tokenized Assets Reach $203 Billion

    28/06/2026

    Polkadot’s Staking Overhaul Sparks Debate

    29/06/2026

    Hoskinson Says “I Just Don’t Want to See Cardano Die,” Believes There’s No Reason ADA Can’t Revisit Previous Highs

    29/06/2026

    Ripple settled a Treasury with JPMorgan and is eyeing an IPO. So why is XRP still stuck?

    29/06/2026

    Market Expert Reveals $2M Profit From Early Shiba Inu Trade

    29/06/2026

    Element NFT Marketplace Expands Reach to Ink to Enhance NFT Accessibility

    27/06/2026

    Why is Pudgy Penguins (PENGU) Trending? What You Need to Know

    22/06/2026

    Top 10 NFT Performers by Trading Volume, Courtyard Outshines

    22/06/2026

    Pudgy Penguins expands retail footprint with Target trading card rollout

    20/06/2026

    The Next GameStop? Meme Stock Traders Make Biggie-Size Bet on Wendy’s

    29/06/2026

    Polkadot’s Staking Overhaul Sparks Debate

    29/06/2026

    Aave Founder Warns UK Stablecoin Rules Could Push Issuers Abroad

    29/06/2026

    South Korea crypto remittances jump 380% in three years, surpassing banks

    29/06/2026
  • Blockchain

    Arbitrum Highlights Efficiency Gains — Here’s Why It Matters

    29/06/2026

    JPMorgan Pilots Deposit Token JPMD on Base — Here’s Why It Matters

    29/06/2026

    ZKsync Assembles Institutional Infrastructure as Interest Grows

    29/06/2026

    Continental Partners With Securitize for Digital Securities

    27/06/2026

    Funton.ai Partners with Echobit Exchange, Expanding Blockchain Gaming Experience with Crypto Applications

    27/06/2026
  • DeFi

    SkyEcosystem Highlights $14.5B in Protocol Collateral — Here’s Why It Matters

    28/06/2026

    AAVE price jumps as founder rejects 70% discount token-sale claim

    28/06/2026

    Aave Plans Tokenized Stock Lending Service on Upcoming V4 Protocol

    28/06/2026

    Jupiter Adds Support for Memory ETF ‘DRAM,’ Bridging DeFi and Semiconductor Markets

    28/06/2026

    Tokenization’s Next Phase Is Lending, Says RedStone Co-Founder

    28/06/2026
  • Metaverse

    Is Solana Gaming Back? Kintara Activity Fuels Renewed Optimism in Onchain MMOs

    24/06/2026

    The Sandbox launches AI game engine ‘The Sandbox Studio’ for next-generation creators

    10/06/2026

    Meta commits $13M in funding for Oversight Board through 2028

    29/05/2026

    Why Animoca’s Yat Siu says the future is 100 billion AI agents

    07/05/2026

    ‘8,000 Jobs’—Polymarket Sees Tech Layoff Surge As Meta AI Push Bites

    18/04/2026
  • Regulation

    The Next GameStop? Meme Stock Traders Make Biggie-Size Bet on Wendy’s

    29/06/2026

    ‘Painful’ Bitcoin Sell-Off Drags Ethereum, XRP and Dogecoin Lower as Crypto Stocks Dive

    29/06/2026

    Black Lake and Nuva Labs Tokenize $25 Million in Institutional Mortgages on Provenance Blockchain

    29/06/2026

    Sentient Launches $42 Million Fund to Back Open-Source AGI Builders

    29/06/2026

    Cathie Wood predicts inflation collapse as Fed hike fears grow

    29/06/2026
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    South Korea crypto remittances jump 380% in three years, surpassing banks

    29/06/2026

    Crypto payment provider checklist for merchants

    29/06/2026

    PancakeSwap Hits $50M in Tokenized Assets Trading — Can DEXs Scale?

    29/06/2026

    Shiba Inu in Spotlight as Major Japanese Exchange Launches Dedicated Content

    29/06/2026

    ICO market slows sharply with only six completions in 2026

    30/04/2026

    South Korea Poised to Lift Ban on Domestic ICOs After 7 Years

    19/12/2025

    Why 2025’s Token Boom Looks Both Familiar and Dangerous

    31/10/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Nexus Acquires Homegrown App Marketplace One Store, Expanding into Global Web3 Game Hub

    21/06/2026

    GMATRIXS and Plum Protocol Partner to Blend GameFi with Meme Assets, Driving Multi-Chain Web3 User Experience

    16/06/2026

    Crypto game studio Uncharted to shutdown along with Fishing Frenzy

    15/06/2026

    Pudgy Penguins Halts Web3 Mobile Game Pudgy Party to Focus on Pudgy World

    14/06/2026

    Fidelity rebuts claims Bitcoin becomes less secure after halvings

    28/06/2026

    ChangXin Memory Technologies secures IPO approval to raise over $4B in China’s biggest chip listing

    28/06/2026

    Russia Plans Wider Crypto Mining Ban Across Key Regions From July

    28/06/2026

    Bitdeer Sells Entire Weekly Bitcoin Production, Now Holds Zero BTC

    28/06/2026

    Aave Founder Warns UK Stablecoin Rules Could Push Issuers Abroad

    29/06/2026

    US Crypto Industry Groups Urge Congress to Pass Original Mining and Staking Tax Bill

    29/06/2026

    Fairshake ramps up election spending as CLARITY faces deadline

    29/06/2026

    New York, Maryland and Utah to hold primaries with crypto PAC money hanging over voters

    29/06/2026

    The Next GameStop? Meme Stock Traders Make Biggie-Size Bet on Wendy’s

    29/06/2026

    Polkadot’s Staking Overhaul Sparks Debate

    29/06/2026

    Aave Founder Warns UK Stablecoin Rules Could Push Issuers Abroad

    29/06/2026

    South Korea crypto remittances jump 380% in three years, surpassing banks

    29/06/2026
  • MarketCap
NBTC News
Home»Legal»Philippines Flood Control Scandal Linked to Crypto Laundering Operations
Legal

Philippines Flood Control Scandal Linked to Crypto Laundering Operations

NBTCBy NBTC12/12/2025No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • Investigators connect flood control corruption funds to cryptocurrency laundering through Tether (USDT).
  • Pogo-linked syndicates are suspected of using digital assets to obscure illicit financial transactions.
  • The Philippine Anti-Money Laundering Council is focusing on crypto exchanges to curb illicit fund flows.

Investigators in the Philippines have discovered a link between the country’s massive flood control corruption scandal and cryptocurrency laundering schemes. Funds meant for flood control projects were allegedly funneled into cryptocurrency exchanges. The money trail appears to involve individuals connected to Philippine offshore gaming operators (Pogos) banned by the government last year.

According to a report by South China Morning Post, cybercrime authorities have reported finding digital assets tied to the flood control scandal linked to cryptocurrency scams. These funds were converted into digital assets, including Tether (USDT), a popular stablecoin. Investigators revealed that large sums of money, ranging from 50 million to 100 million pesos, were being moved into digital currencies.

Tether Used for Laundering Corrupt Funds

The use of Tether in the flood control scandal comes as no surprise. Tether (USDT) is widely used across Southeast Asia for crypto transactions. Luis Buenaventura, head of crypto at GCash, explained that USDT’s liquidity makes it ideal for large-scale transactions in the region.

Tether transactions in the Philippines have become a common method for laundering illicit funds. Investigators found that the funds linked to the corruption scandal were being funneled through multiple accounts. These accounts are believed to be operated by Pogo-linked syndicates, which have been involved in various illegal activities.

The Philippine Anti-Money Laundering Council has frozen accounts linked to these transactions. The council has focused on Tether and other digital currencies, highlighting their role in money laundering schemes. Renato Paraiso, acting executive director of the Cybercrime Investigation and Coordinating Centre, stated, “There’s a definite link between these transactions and the people involved in the corruption scandal.”

Crypto Channels Used for Corruption and Criminal Activities

Authorities have found that digital currencies are being increasingly used for illegal purposes. Cryptocurrency transactions have become the preferred method for laundering funds linked to crimes such as kidnapping and drug trafficking. Paraiso noted that launderers have been routing the money through various wallets and exchanges to obscure the trail.

Investigators also believe that casino junket operators are playing a role in the laundering process. Public works officials tied to the flood control corruption scheme have reportedly used casinos to convert their kickbacks into cryptocurrency. After cashing out the casino chips, the proceeds were deposited as winnings.

The trending use of cryptocurrencies for transferring illicit funds is presented through these methods. The situation is still under the watchful eyes of the authorities, but the non-regulation in the Philippines makes it hard to follow all the transactions. The crypto market in the country is still governed by loose regulations, which is a plus for criminals as they can take advantage of the system’s weaknesses.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Related Posts

Aave Founder Warns UK Stablecoin Rules Could Push Issuers Abroad

29/06/2026

US Crypto Industry Groups Urge Congress to Pass Original Mining and Staking Tax Bill

29/06/2026

Fairshake ramps up election spending as CLARITY faces deadline

29/06/2026

New York, Maryland and Utah to hold primaries with crypto PAC money hanging over voters

29/06/2026
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

The Next GameStop? Meme Stock Traders Make Biggie-Size Bet on Wendy’s

29/06/2026

Polkadot’s Staking Overhaul Sparks Debate

29/06/2026

Aave Founder Warns UK Stablecoin Rules Could Push Issuers Abroad

29/06/2026
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.