Warrant – Earlybirds Invest

Florida’s Volusia County Sheriff’s Office was required to return cryptocurrency and cover legal costs after a seizure that lacked proper legal steps.

The case, reported by Attorney Leslie Sammis of Sammis Law, involved an EU-registered brokerage that had its Kraken

$504.05M

account frozen on March 28.

Authorities from Wisconsin and Florida had traced a $20,000 fraud to the firm’s wallet. Although the company worked with both states during the investigation, its crypto, worth over $450,000 at the time, was locked without warning.

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On April 9, Volusia County obtained a sealed warrant ordering Kraken to transfer 1.19 BTC
BTC

$117,098.05

to a wallet controlled by the state and convert it into US dollars.

Wisconsin also issued a separate order for 0.93 BTC but could not process crypto on its own. Instead, it relied on Florida to sell the Bitcoin and forward a check for $95,030.59.

However, Sammis later found that the Florida warrant had major flaws. It had no case number, was never filed with a court, and did not include supporting documents. Using blockchain analysis tools, she also found no link between the client’s wallet and the fraud in question.

Sammis later convinced Volusia County officials to reverse their actions. The sheriff’s office returned the remaining cryptocurrency, got back the check sent to Wisconsin, and agreed to pay the brokerage’s legal fees.

The scam that triggered the investigation began when fraudsters posed as the “Board of Governors of the Federal Reserve System” and sent fake asset seizure notices.

Meanwhile, a German man accused of taking $2.9 million (€2.5 million) worth of cryptocurrency has avoided criminal charges. How? Read the full story.

Who is DV8?

DV8’s board has previously signaled its intention to replicate Strategy-style corporate finance strategies centered around Bitcoin accumulation and digital asset-backed value creation. The firm’s treasury model is aligned with the broader pivot led by a regional consortium of crypto-focused investors, including Metaplanet, Sora Ventures, Kliff Capital, and others, which recently acquired the Thai-listed electronics and retail company through a voluntary tender offer.

Metaplanet, the Tokyo-based public firm that emerged as one of the world’s largest corporate Bitcoin holders following its own treasury conversion, has become a guiding reference point for DV8’s transition. The Japanese company’s stock rose by over 11,000% across its treasury pivot, reinforcing the appeal of this strategy among firms exploring alternative financial models in Asia.

DV8’s transformation is also driven by a leadership overhaul led by Thai businessman Chatchaval Jiaravanon, known internationally for acquiring Fortune Magazine. His appointment as chairman was part of a broader board reshuffle aimed at repositioning DV8 as a crypto-financial infrastructure firm targeting Southeast Asian markets.

Recent moves by the consortium, such as the acquisition of Seoul-based SGA Co. to support new digital asset ventures, signal coordinated efforts to institutionalize crypto treasury adoption across the region. The investors have highlighted their interest in expanding into the Philippines, Vietnam, Indonesia, and Malaysia by partnering with execution-ready local firms.

The THB 241 million raise represents the first major liquidity infusion into DV8 since its crypto pivot and will be used to accelerate its operational transformation. According to the company, the capital sets the foundation for executing its long-term digital asset strategy and serves as a template for future funding rounds tied to treasury expansion.

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