According to The Philippine Star, the Philippines' Anti-Money Laundering Council (AMLC) announced that the Court of Appeals has frozen 25 virtual asset wallets linked to a lawmaker and associated individuals and entities. Additionally, 86 bank accounts, 4 investment accounts, and 1 insurance policy have been frozen. The assets are reportedly connected to an investigation into corruption and embezzlement of public funds related to a flood control project. AMLC stated that the funds involved were transferred through virtual asset service providers and multiple virtual asset wallets, then circulated via various recipients and financial channels to make tracking more difficult. AMLC has not disclosed the identities of the lawmaker or related entities. The freeze order is a precautionary measure during the investigation phase and does not imply that the individuals involved have been convicted. https://www.(wublock123.com)/news/philippines-court-freezes-25-crypto-wallets-linked-to-lawmaker-corruption-69495