Daisy Global’s Eduard Khemchan Under IRS Investigation
By DefendMe Team · · Hot News
The U.S. Internal Revenue Service (IRS) is investigating Daisy Global co-founder Eduard Khemchan in connection with his federal income tax liability and cryptocurrency activity. The investigation has become public through court proceedings brought by Khemchan and Irina Yurchenko, who are attempting to prevent the IRS from obtaining certain records from cryptocurrency exchange CoinZoom. The latest development came on September 8, 2026, when the United States filed a reply opposing their request for an evidentiary hearing. What is the IRS investigating? The proceedings arise from an IRS audit of Eduard Khemchan and Irina Yurchenko. According to court filings, the IRS issued a summons to CoinZoom seeking records concerning their accounts, including transaction history, Know Your Customer (KYC) information and correspondence. Khemchan and Yurchenko subsequently filed proceedings seeking to quash the summons. They argue, among other things, that the request is overly broad because it seeks records from the inception of their CoinZoom accounts through December 31, 2023, despite the stated examination relating to the 2023 tax year. The IRS maintains that the requested information is relevant to determining their correct federal income tax liability. What did the IRS discover? According to the U.S. Government’s filing, Khemchan and Yurchenko reported a Schedule C business with approximately $5.3 million in gross receipts on their 2023 federal tax return, together with substantial depreciation, other expenses and approximately $1 million in cash contributions. During the audit, the IRS states that it discovered that Khemchan was heavily involved with digital assets. This became particularly relevant because Khemchan and Yurchenko reportedly answered “No” to the question on their 2023 Form 1040 asking whether, during that year, they had received, sold, exchanged or otherwise disposed of a digital asset or financial interest in a digital asset. The IRS states that after requesting information directly from Khemchan and Yurchenko, it issued summonses to financial institutions and obtained additional records. According to the Government, those records revealed that Khemchan had received substantial wire transfers from CoinZoom. The IRS then sought further information concerning his activity with the cryptocurrency exchange. It maintains that Khemchan and Yurchenko ultimately provided some information but did not provide complete records concerning Khemchan’s CoinZoom activity. Why is Daisy Global relevant? Eduard Khemchan has been publicly identified as one of the co-founders of Daisy Global and was involved with the platform during the period covered by the IRS requests for cryptocurrency records. This makes the investigation potentially relevant to people who previously invested through Daisy Global, particularly because the IRS is seeking detailed records concerning Khemchan’s cryptocurrency transactions and financial activity. However, the existence of the IRS audit does not establish that the funds or transactions being examined originated from Daisy Global investors. That distinction is important. The current proceedings concern Khemchan and Yurchenko’s federal tax liabilities and the IRS’s ability to obtain and examine financial records. They do not currently constitute a proceeding for the recovery of Daisy Global investor funds. Is this a criminal investigation? The available court filings do not establish that Khemchan or Yurchenko are currently facing criminal charges arising from the IRS investigation. The U.S. Government specifically stated that no Department of Justice referral, as defined under the relevant provision of U.S. tax law, was in effect with respect to Khemchan or Yurchenko. The present proceedings should therefore be understood as relating to an IRS tax examination and enforcement of an IRS summons, rather than as confirmation of a criminal prosecution. This does not determine whether other authorities are or may become involved, but no such conclusion should be drawn from the current proceedings alone. What happened on September 8? The latest development came on September 8, 2026, when the IRS filed its reply to Khemchan and Yurchenko’s opposition to the Government’s request for summary denial. Khemchan and Yurchenko have requested an evidentiary hearing concerning the IRS summons. The Government argues that such a hearing is unnecessary and that the purpose of the proceedings is simply to allow the IRS to examine the information produced by CoinZoom in order to determine their correct federal income tax liability for 2023. At the time of the latest available information, the court had not yet ruled on the motion to quash or the Government’s request for summary denial. Why is this relevant to investors? For people affected by Daisy Global, the proceedings are significant because they provide new information concerning financial and cryptocurrency activity associated with one of the individuals publicly connected with the platform. They also demonstrate how financial records held by banks and cryptocurrency exchanges may become relevant to regulatory or tax investigations even years after transactions occurred. At the same time, the IRS proceedings should not be interpreted as confirmation that investor funds have been located or that a compensation or restitution process has been established. At present, there is no indication that these proceedings create a direct recovery mechanism for Daisy Global investors. Nevertheless, anyone affected by Daisy Global should continue to preserve payment records, cryptocurrency transaction information, wallet addresses, account statements, communications and other documentation relating to their investment. Further developments in the proceedings may provide additional information concerning Khemchan’s financial and cryptocurrency activity and its potential relevance to Daisy Global. DefendMe Global