Philippines Court Freezes 25 Crypto Wallets in Probe

The Philippine Court of Appeals has frozen 116 accounts and assets, including 25 virtual asset wallets, under a Sept. 21 order tied to an unnamed lawmaker and a flood-control plunder investigation, according to CryptoNews.

The order covers 86 bank accounts, four investment accounts, one insurance policy, and the 25 wallets. According to the Anti-Money Laundering Council (AMLC), funds moved through intermediaries, banks, money services, virtual asset platforms, and multiple wallets. Investigators found no apparent operating revenues sufficient to support the scale of the investments identified.

Freeze Order Mechanics

Philippine law allows freeze orders for an initial 20 days, with court-approved extensions up to six months. The Court of Appeals issued the order after finding probable cause that the covered property was related to alleged plunder under Republic Act No. 7080. The AMLC's public statement did not identify the lawmaker, corporation, or other people covered by the order, citing confidentiality rules.

A freeze order blocks covered property from being withdrawn, transferred, or disposed of during the court-approved period. Philippine Supreme Court decisions describe the measure as interim relief intended to preserve property suspected of being connected to unlawful activity while investigators build a case. A freeze order does not by itself establish criminal guilt.

Tracing Illicit Funds

According to the council, money linked to the investments moved through individual intermediaries, corporations, bank accounts, a money service business, and a virtual asset platform. Multiple recipients and financial channels complicated the tracing of the funds, the AMLC said. Earlier flood-control asset-recovery work in December 2025 involved cybercrime officials examining reports that money tied to flood-control corruption had been converted into USDT and moved through intermediaries.

Key facts

• The Philippine Court of Appeals froze 116 accounts and assets under a Sept. 21 order.
• The restraint includes 25 virtual asset wallets, 86 bank accounts, four investment accounts, and one insurance policy.
• The order is tied to an unnamed lawmaker and a flood-control plunder investigation under Republic Act No. 7080.
• AMLC stated that funds moved through intermediaries, banks, money services, virtual asset platforms, and multiple wallets.
• Freeze orders last for an initial 20 days and can be extended by a court up to six months.