In the civil lawsuit filed by clients of the WEX exchange against the company over stolen funds allegedly taken by the “Orthodox oligarch” Konstantin Malofeev and his security service associates, Ms. Seedathan Khwanta was also summoned to court.

She is the second (nominal) director of WEX, alongside Dmitry Kosarev (Malofeev’s nominee, supervised by Dmitriy Skuratov, director of Tsargrad), as well as the company secretary Mr. Yeow Lih Ren.

The court questioned them about WEX assets that had not been disclosed. During cross-examination, Ms. Seedathan Khwanta admitted that both she and the WEX secretary are advised by a certain Pavel Kuznetsov, director of the Singaporean company RegUniverse Pte Ltd, who instructed them not to disclose any information.

Failure to comply with a court order in Singapore carries a penalty of up to six months in prison, which is what the director was facing. However, the plaintiffs showed leniency and did not insist on imprisonment, since they had previously obtained a document in which she authorized Pravdin to independently dispose of WEX funds.

Kuznetsov had submitted an affidavit in support of WEX a year earlier. It can be assumed that this individual actively works with nominal personnel in order to conceal the misappropriation of funds and may be of interest for further investigation if WEX is unable to settle its obligations. The same applies to Andrey Zelenin of Lidings, who is likely directly involved in the embezzlement together with Pravdin and Kosarev.

In parallel with the Singapore proceedings, on September 30, 2025, the Supreme Court of Russia, acting on a constitutional complaint, overturned a civil court decision under which Aleksey Bilyuchenko was required to pay 18 billion rubles to WEX as compensation for misappropriated funds. The reason was an agreement concluded by Dmitry Khavchenko at a hearing on September 6, 2023, when the company was effectively re-registered to Pravdin without Khavchenko’s knowledge (a replacement of nominees).

However, Khavchenko remained WEX’s representative in court and, in order to spite the Pravdin–Skuratov group, approved the minimum possible amount of damage allegedly suffered by WEX — namely 3.1 billion rubles. This amount was clearly understated as of 2023. The damage was calculated as of October 24, 2018, which is notable because this period coincided with the lowest cryptocurrency prices, and it was precisely this date that investigators selected.

Khavchenko, who had no understanding of either cryptocurrencies or the WEX exchange, was satisfied with any amount that could be transferred to an account number he had hastily written on a piece of paper and attempted to hand to the court that day.

Although, under Article 1102 of the Russian Civil Code, no one may benefit from their own crime, and even in the presence of a signed but knowingly predatory agreement with Khavchenko, it is still possible to seek recovery of illegally obtained profits from a criminal act — not to mention that they had three years to attempt to challenge this agreement.

All resources of the legal firms and law offices hired by WEX were instead focused on the Singapore proceedings, with the goal of preventing any payouts whatsoever.