Key Policy Update
The latest update adds new directional signals across liquidity, regulation, and demand expectations in crypto markets.
French authorities arrested John “Lick” Daghita, who allegedly stole tens of millions in crypto from the U.S. government.
In an X post on Thursday, FBI Director Kash Patel confirmed Daghita had been arrested on Wednesday on the island of Saint Martin in a joint FBI and French Gendarmerie operation.
In his social media post, Patel included images of Daghita handcuffed and another one of a metal suitcase filled with packs of $100 bills and several USB and what appear to be hardware crypto wallets.
“[The] FBI will continue working 24/7 with our international partners to track down, apprehend, and bring to justice those who attempt to defraud American taxpayers, no matter where they try to hide,” Patel said.
The arrest caps off a monthslong investigation by the U.S. Marshals Service into whether Daghita, the son of a government contractor tasked with managing seized crypto funds, stole over $46 million from government seizure wallets.
Regulatory Context
Brady McCarron, chief of public affairs for the USMS, told CoinDesk in late January that an investigation into allegations that Daghita had stolen cryptocurrency were underway.
The law enforcement investigation began after blockchain sleuth ZachXBT publicly alleged that Daghita, the son of CMDSS president Dean Daghita, had siphoned tens of millions of dollars in digital assets from wallets associated with U.S. government seizures.
What To Watch
CMDSS is a Virginia-based contractor that advertises information technology and operational support services for U.S. government agencies, including the Department of Justice and Department of Defense. The company has previously been reported to hold contracts assisting the USMS with managing and disposing of cryptocurrency seized during criminal investigations.
The investigator said he alerted authorities after identifying a wallet holding roughly 12,540 ETH, worth more than $36 million at the time, that he alleged was controlled by Daghita.
Daghita first drew attention in online circles after appearing in a recorded dispute in a Telegram group chat with another alleged threat actor in what is known as a “band for band” exchange, where participants attempt to prove control of large crypto holdings.
With Daghita now in custody, U.S. authorities are expected to pursue extradition as the investigation continues.
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