According to the British newspaper The Sun, a cryptocurrency platform that has been a long-term sponsor of Manchester City has become embroiled in another scandal after the company was fined £400,000 over

between its business activities and organised crime.

Manchester City has continued its commercial partnership with the platform despite the club itself being embroiled in controversy over alleged financial breaches, prompting widespread discussion and criticism within the football industry.

Publicly available information shows that the platform was previously hit with a massive fine of approximately £381 million in the United States. A court in New York found that the company had been involved in facilitating suspicious transactions and the movement of criminal funds worth more than $5 billion in total.

Its European subsidiary, based in Malta, was also sanctioned for breaching regulations relating to anti-money laundering and counter-terrorist financing.

Beyond the United States and Malta, regulatory authorities in several other countries, including South Korea, Thailand and the Netherlands, have also launched investigations into the platform.