$84M Seized from Montana Firm Accused of Crypto Money Laundering

A Montana-based payments firm called Capstone has been hit with a civil forfeiture of nearly $84 million by U.S. prosecutors, who claim the company posed as an IT firm to open bank accounts and launder money for crypto companies.

The funds were seized from Capstone's accounts at Wells Fargo and JPMorgan Chase, as well as cryptocurrency wallets tied to the firm.

Court documents reveal that Capstone processed payments for two crypto firms through a bank in Dominica, while also allegedly converting fraud proceeds into cryptocurrency by posing as FBI agents.