A man from Wellington, New Zealand, has been arrested for his involvement in a global cryptocurrency fraud operation that allegedly stole $450 million New Zealand dollars ($265 million). New Zealand Police, in coordination with the FBI, charged him along with 12 others after executing search warrants in Auckland, Wellington, and California. The group is accused of manipulating seven victims to obtain significant amounts of cryptocurrency between March and August 2024, followed by laundering it through various platforms. The US Department of Justice indicted the suspect on charges including racketeering, wire fraud conspiracy, and money laundering conspiracy. Prosecutors claim the stolen funds were used to buy $9 million worth of luxury vehicles and other high-end items and services. The accused appeared in Auckland District Court and was granted bail with name suppression, scheduled to reappear on July 3. The New Zealand Police underscored the importance of international partnerships in combatting cross-border crimes. The investigation is ongoing amid a surge in crypto thefts in April 2025, totaling around $360 million across 18 hacking incidents, marking a significant jump from March.