CoinSpot Referred for Financial Crime Enforcement Submission: 11,400 Transactions Traced

Written By Anthony McNamara

Date: 4 May 2025 | Time: 09:00 AEST

Following a three-year forensic investigation into illicit financial flows associated with the MetaFiYielders fraud and the facilitation of unlawful offshore gambling payments, 5 Sided Square Pty Ltd has formally referred the following Australian entity for regulatory and criminal enforcement:

Casey Block Services Pty Ltd (operator of CoinSpot)

The investigation, conducted on behalf of 832 confirmed victims across 21 countries, uncovered irrefutable evidence of:

  • Reckless facilitation of laundering activity via CoinSpot-hosted wallets

  • Direct transaction servicing of unlawful casino operations, including Stake.com, Roobet, and Gamdom

  • Systemic breaches of the AML/CTF Act 2006, with no effective monitoring or escalation

  • Institutional failure to lodge Suspicious Matter Reports (SMRs) across thousands of high-risk transactions

  • Ongoing operation of a digital currency platform enabling structured laundering activity at scale

Over a four-month forensic review period, 5 Sided Square identified more than 11,400 transactions tied to laundering activity, routed via CoinSpot infrastructure into unlicensed casino networks — including direct flows into Stake, Roobet, and Gamdom.

Despite repeated private engagement efforts, the company failed to participate in any credible recovery or compliance resolution process.

As a result, formal referrals have now been completed to:

  • AUSTRAC (Criminal Enforcement Division)

  • ASIC (Director Oversight & Misconduct Division)

These referrals are supported by detailed blockchain forensics, high-resolution transaction maps, forensic evidence packages, and internal access logs confirming awareness and non-response by relevant parties.

Case Status

  • AUSTRAC referral: Complete

  • ASIC director disqualification request: Lodged

  • Victim representation: 832 verified international claimants

  • Media engagement: Active

  • Public updates: Ongoing

This matter remains under active escalation. Further public disclosures will reflect the actions — or inaction — of involved parties.

5 Sided Square Pty Ltd remains committed to exposing financial misconduct, protecting victims, and defending global financial integrity across the digital asset sector.

Anthony McNamara
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Stake.com Operators Referred for Financial Crime Enforcement