A person from Wellington, the capital metropolis of New Zealand, has been arrested in reference to an FBI-led investigation into a world cryptocurrency fraud operation that allegedly stole $450 million New Zealand {dollars} ($265 million).
In line with New Zealand Police, the person is certainly one of 13 people charged after authorities executed search warrants throughout Auckland, Wellington, and California over the previous three days.
The fees stem from allegations that members of an organized felony group manipulated seven victims to acquire massive quantities of cryptocurrency, which was then laundered by a number of platforms between March and August 2024.
The US Division of Justice has indicted the person underneath federal legislation, 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 automobiles
Prosecutors allege the stolen funds had been used to buy $9 million value of luxurious automobiles and spent lavishly on high-end items, together with designer purses, watches, and clothes, in addition to providers corresponding to nightclub entry, personal safety, and leases in Los Angeles, Miami, and the Hamptons.
The accused appeared in Auckland District Court docket and was granted bail with interim title suppression. He’s scheduled to reappear on July 3.
“Now we have labored carefully with our legislation enforcement colleagues in america in assist of their investigation,” the police said. They added:
“At this time’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 practically $360 million stolen throughout 18 separate hacking incidents, in keeping with knowledge from blockchain safety agency PeckShield.
The determine marks a staggering 990% bounce 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 recognized 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 thus far.
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