A Wellington resident has been arrested as part of a major cryptocurrency scam investigation, with authorities claiming the total value of the stolen funds reaches $265 million. The case involved international cooperation between New Zealand Police and the FBI, following which assets were seized and the suspect was apprehended. 13 individuals are accused of racketeering and wire fraud in connection to this scheme. High-value assets, linked to money laundering activities, have been seized. This arrest represents a significant step in the investigation, but authorities warn that recovering the stolen funds remains challenging. The scam’s global reach is highlighted, with at least seven individuals affected by the alleged theft. Luxury items, such as vehicles and real estate, are believed to have been purchased using the laundered funds. While market reactions were muted following the arrest, experts anticipate potential regulatory adjustments in light of this case, and increased scrutiny on international cryptocurrency transactions.