Australian police have charged a 42-year-old man in connection with a crypto investment scam that caused over 190 elderly and vulnerable individuals to lose a total of 5 million AUD (3.5 million USD). The suspect is released on conditional bail and will appear in court on March 17.
According to the investigation, starting from November 2025, the perpetrators posing as investment advisors lured victims to deposit money into the platform “NEXOpayment.” The funds were then transferred through multiple wallets and digital asset exchanges in a money laundering scheme. Another 36-year-old man has also been arrested and is under investigation.
Authorities stated that investment fraud is the most damaging type of cybercrime in Australia, amid the country’s increased efforts to tighten regulations on digital assets.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
UK Tax and Customs Authority Plans to Procure Blockchain Forensics Tools, with Total Contract Value of Approximately $4.6 Million
The UK Tax and Customs Authority plans to procure blockchain forensics software to strengthen its efforts against digital asset money laundering and tax fraud, with a total value of approximately 3.42 million pounds and a three-year contract term. This move reflects global emphasis on digital asset compliance, highlighting the importance of cross-chain tracking and data analysis.
GateNews36m ago
US CFTC Chair: Will Issue Clear Guidance on Prediction Markets to Prevent Manipulation and Insider Trading
US CFTC Chair Mike Selig released prediction market guidance aimed at helping trading platforms understand regulatory expectations to ensure transparent rules for new contracts and prevent manipulation and abuse. Additionally, a proposed rule prenotice will be released to establish clear rules of conduct for new markets.
GateNews1h ago
Investors Sue JPMorgan Chase Over $328M Crypto Fraud
Investors have sued JPMorgan Chase for allegedly enabling a $328 million Ponzi scheme by Goliath Ventures, claiming the bank ignored red flags and contributed to their losses through its financial services. They seek class-action certification for other affected investors.
TodayqNews1h ago
Victims in the Qian Zhimin Case File Objection with UK High Court Over 61,000 BTC Compensation Plan
In the Qian Zhimin case, Chinese victims have objected to a compensation plan proposed in the UK High Court, arguing that the plan could allow UK authorities to profit from the appreciation of seized Bitcoin. The case involves fraud from 2014 to 2017 that affected over 128,000 Chinese investors, with legal representatives claiming the compensation arrangement may be unfair.
GateNews1h ago
Prosecutors Oppose Sam Bankman-Fried’s Request for New Trial
Former FTX CEO Sam Bankman-Fried seeks a new trial, claiming new evidence from ex-officials could change his fraud conviction. Prosecutors argue this evidence was known before and wouldn't alter the case outcome, reaffirming FTX's financial mismanagement.
TheNewsCrypto2h ago
JPMorgan Sued by Investors for Allegedly Participating in $328 Million Crypto Ponzi Scheme
Investors filed a class action lawsuit in California on March 11, alleging that JPMorgan failed to prevent suspicious transactions related to a $328 million crypto Ponzi scheme operated by Goliath Ventures. The complaint claims that the bank provided exclusive banking services to Goliath from January 2023 through 2025, resulting in the misuse of substantial investor funds. The Goliath CEO has been arrested and faces serious criminal charges.
GateNews3h ago
