Philippine Court Freezes 25 Crypto Wallets in Corruption Probe

The Philippine Court of Appeals froze 25 virtual-asset wallets linked to a lawmaker and related parties in an investigation into alleged corruption in flood-control projects and the misappropriation of public funds.

The order also covers 86 bank accounts, four investment accounts and one insurance policy. The lawmaker and the related individuals and entities have not been identified.

The Anti-Money Laundering Council (AMLC) said funds moved through virtual-asset service providers and multiple wallets, then among recipients and through different financial channels. The freeze preserves assets during the investigation and does not establish that anyone has been convicted.