Following the revelation by DILG Secretary Jonvic Remulla that former lawmaker Zaldy Co allegedly moved ₱5 billion out of the country using cryptocurrency, a critical question has emerged from the public: Where are the wallet addresses?
Zaldy Co allegedly used crypto to smuggle ₱5 billion abroad while evading arrest in Portugal, prompting calls for blockchain-backed budget transparency.
Contractors involved in the scandal were moving “exorbitant” amounts, ranging from ₱50 million to ₱100 million per transaction, into digital assets to hide the money trail.
Renato Paraiso, chairperson of the ICI-TWG disclosed that they are witnessing a “new phenomenon” where suspects are laundering money through cryptocurrencies.
