A stunning investigation has revealed an alleged inside job targeting state-held digital assets. Blockchain detective ZachXBT reports that over $40 million in cryptocurrency was stolen from the United States government. The accused, John Daghita, is reportedly the son of the CEO of CMDSS—the firm contracted by authorities to safeguard seized crypto.
Explosive Details of the US Government Crypto Theft
The allegations point to a catastrophic security failure. CMDSS held an active IT contract in Virginia and worked directly with the U.S. Marshals Service (USMS) to manage and liquidate seized digital assets. The central, unanswered question is how Daghita allegedly bypassed layers of security to access and steal these funds. Following the public accusations, CMDSS’s website and social media were abruptly shut down, signaling a severe crisis.
This case is not just about theft; it’s about the integrity of the system built to police crypto. A contractor entrusted with securing confiscated assets appears to have been compromised from within, raising alarms about oversight and procedural safeguards across government programs.
My Thoughts
This is an institutional credibility disaster. While not a direct market-moving event, it fuels the narrative that legacy systems cannot be trusted with digital asset custody. For the crypto community, it underscores the need for transparent, on-chain verification and serves as a cautionary tale for regulators relying on opaque contractors. Expect massive fallout, legal battles, and potentially stricter vendor regulations.
