Man Arrested in New Zealand for Role in $265 Million Crypto Scam

A Wellington resident was apprehended in Auckland as part of an international investigation into a cryptocurrency scam that allegedly stole $265 million (NZD$450 million) from seven victims. This arrest follows an FBI-led probe into the criminal network, which is suspected of using victim manipulation tactics to fraudulently obtain cryptocurrency between March and August 2024. The stolen funds were then laundered through multiple cryptocurrency platforms.