United States of America: US District Court for District of Arizona issued default judgment against Debiex

On 13 March 2025, the United States District Court for the District of Arizona entered a default judgment against Debiex in a civil enforcement action brought by the Commodity Futures Trading Commission (CFTC). The court found that Debiex operated a fraudulent scheme in violation of Section 6(c)(1) of the Commodity Exchange Act and CFTC Regulation 180.1(a), misleading US-based customers into transferring over USD 2.3 million in digital assets under false pretences of digital asset commodity trading. The judgment imposes a permanent injunction prohibiting Debiex from engaging in commodity-related trading activities, orders restitution of USD 2'257'337 to defrauded customers, and imposes a civil monetary penalty of USD 221'466. The National Futures Association (NFA) was appointed to monitor collection and distribution of restitution. The court also reaffirmed its prior order directing the transfer of digital assets from relief defendant Zhang Cheng Yang’s wallet on a digital asset exchange to Customer D. The assets specified for transfer were 62.94 ETH and 5.7 USDT. The order designated affected customers as third-party beneficiaries entitled to enforce the judgment, and final judgment was entered, closing the case with respect to Debiex.