The post New Zealand Man Busted in $265M Crypto Scam appeared on BitcoinEthereumNews.com.

Man from Wellington nabbed for $265M crypto felony. FBI-led investigation targets 13 suspects across NZ, US. Funds used for luxury cars, handbags, and rentals. The authorities arrested a man from Wellington, New Zealand for his suspected role in a serious cryptocurrency fraud case. The FBI has been leading an operation to track down a criminal group accused of fraud and money laundering. A suspect connected to the crime has been arrested in Auckland by the Financial Crime Group, whose identity has not been revealed. Officials carried out the warrants in Wellington, Auckland, and California over a period of three days. They suspect that the group swindled NZ$450 million (US$265 million) in digital money using deceitful practices. Global Investigation Uncovers Fraud Scheme According to the allegations, between March and August 2024, seven victims were manipulated by the group to gain cryptocurrency. The money was moved via digital platforms to hide where it had gone. A report by New Zealand Police indicated that thirteen individuals were involved and each is now facing charges.The individual from New Zealand has been charged with organized crime, fraudulent wire transactions, and monetary laundering in the United States due to federal accusations that have been brought against him. Police in New Zealand found it necessary to join forces with other countries to stop acts like these. Officials claimed that their help with US law enforcement was very important in making the arrests and getting the search warrants. It was found that the investigation uncovered a complex network using international links and cryptocurrency to operate. FBI agents are in charge of the investigation, while New Zealand experts are offering valuable help. The united approach is a sign of how important it has become to address cybercrime in the crypto world. The FBI’s 2024 Internet Crime Report shows that…

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Filed under: News - @ May 18, 2025 7:27 am