A Wellington resident is facing charges after being arrested as part of a major international cryptocurrency scam that has defrauded seven individuals out of an estimated $265 million USD. The arrest was made by New Zealand Police, in collaboration with the FBI, and follows their joint investigation spanning from March to August 2024. This case marks a significant step forward in tackling global cybercrime, as it highlights the importance of international partnerships for combating such financial fraud. The suspect is one of thirteen individuals facing charges related to this scheme. Their illicit gains were laundered through multiple platforms, impacting cryptocurrency platform reliability and raising questions about regulatory gaps within the digital asset market.