New Zealand man arrested in $265M crypto scam tied to FBI probe
A man from Wellington has been arrested in a global cryptocurrency fraud investigation led by the FBI, involving a theft of $450 million NZD ($265 million). He is one of 13 individuals charged following search warrants executed in Auckland, Wellington, and California. The charges include racketeering, conspiracy to commit wire fraud, and money laundering. Allegations state that the organized group manipulated seven victims to acquire large amounts of cryptocurrency, which was laundered between March and August 2024. Prosecutors claim the stolen funds financed $9 million in luxury vehicles and high-end goods, including designer items and services in major cities. The accused appeared in court, received bail with name suppression, and is set to reappear on July 3. The investigation is ongoing, highlighting the significance of international law enforcement collaboration. Additionally, digital asset thefts surged to $360 million in April 2025, a 990% increase from March, largely due to a significant unauthorized Bitcoin transfer linked to a social engineering attack.
