A person from Wellington, the capital metropolis of New Zealand, has been arrested in reference to an FBI-led investigation into a worldwide cryptocurrency fraud operation that allegedly stole $450 million New Zealand {dollars} ($265 million).
According to New Zealand Police, the person is one in every of 13 people charged after authorities executed search warrants throughout Auckland, Wellington, and California over the past three days.
The fees stem from allegations that members of an organized prison group manipulated seven victims to acquire giant quantities of cryptocurrency, which was then laundered via a number of platforms between March and August 2024.
The US Division of Justice has indicted the person underneath federal regulation, together with prices of racketeering, conspiracy to commit wire fraud, and conspiracy to commit cash laundering, per the announcement.
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Scammer used stolen funds to buy luxurious autos
Prosecutors allege the stolen funds had been used to buy $9 million value of luxurious autos and spent lavishly on high-end items, together with designer purses, watches, and clothes, in addition to providers equivalent to nightclub entry, non-public safety, and leases in Los Angeles, Miami, and the Hamptons.
The accused appeared in Auckland District Courtroom and was granted bail with interim title suppression. He’s scheduled to reappear on July 3.
“We’ve got labored carefully with our regulation enforcement colleagues in the US in assist of their investigation,” the police acknowledged. They added:
“Immediately’s search warrant and arrest displays the significance of worldwide partnerships the place criminals are working throughout borders.”
The investigation stays ongoing.
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Crypto thefts surge to $360M in April
Digital asset thefts skyrocketed in April 2025, with nearly $360 million stolen throughout 18 separate hacking incidents, in keeping with knowledge from blockchain safety agency PeckShield.
The determine marks a staggering 990% soar from March when reported losses stood at simply $33 million. The sharp rise was largely attributed to a single unauthorized Bitcoin switch that accounted for the majority of the month’s losses.
On April 28, blockchain analyst ZachXBT identified a suspicious $330 million BTC transaction. The incident was later confirmed as a social engineering assault that focused an aged US resident, leading to one of many largest particular person crypto thefts so far.
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