The Seychelles Financial Services Authority (FSA) issued a public warning about alleged unauthorised virtual asset activity linked to the website defihorse.com, which it said is allegedly operated by DFH Studios INC. The FSA stated that the company does not and has not had authorisation to operate under the Virtual Asset Service Providers Act, 2024. DFH Studios INC was previously incorporated under the International Business Companies Act but has since been struck off and dissolved as of 18 December 2024, meaning it is no longer a legal entity. The FSA reminded consumers to verify that any virtual asset service provider or virtual asset products are properly licensed or authorised and regulated in the jurisdiction where they claim to operate, noting that the FSA publishes lists of authorised or licensed non-bank financial services providers, including virtual asset service providers, as well as registrations of Initial Coin Offerings and Non-Fungible Tokens. The authority said it continues to monitor activity in the sector and encouraged members of the public to report suspected unauthorised or unlicensed virtual asset service provider activity via a reporting form available on the FSA website.

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