New Zealand man arrested in $265M crypto scam tied to FBI probe

A man from Wellington, New Zealand, was arrested on May 16, 2025, in connection with a $265 million cryptocurrency fraud scheme that is part of an FBI-led international investigation.

The scam involved an organized criminal group that manipulated seven victims to obtain large amounts of cryptocurrency, which was then laundered through multiple platforms between March and August 2024.

The New Zealand man is one of 13 individuals charged in the probe, with indictments under U.S. federal law including racketeering, conspiracy to commit wire fraud, and conspiracy to commit money laundering.

The stolen funds were allegedly used to purchase $9 million worth of luxury vehicles and spent lavishly on designer goods, private security, etc and also rental properties in cities such as Los Angeles, Miami, and the Hamptons.

The accused appeared in Auckland District Court, was granted bail with interim name suppression, and is scheduled to reappear on July 3, 2025. New Zealand Police emphasized the importance of international cooperation in tackling cross-border crypto crimes, highlighting the collaboration between U.S. and New Zealand authorities in this case.

This case underscores the growing challenges in cryptocurrency security and the need for global law enforcement partnerships to combat large-scale crypto fraud. The investigation remains ongoing.

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