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
U.S. Treasury Urges Law Allowing Crypto Exchanges to Freeze Funds
U.S. Department of the Treasury proposed a law allowing exchanges to freeze suspicious crypto funds during probes.
The report says a “hold law” would let platforms pause transfers without a court order while law enforcement investigates.
Treasury also urged clearer AML rules for DeFi
CryptoFrontNews5h ago
Justin Sun Reaffirms Zero-Tolerance Policy on Illegal Activities at Tron
TRON founder Justin Sun says his companies maintains zero tolerance against illegal activities like embezzlement, unauthorised computer access and bribery.
He threatened legal action against those who spread false rumors online and ‘smear judicial organs’ just days after two of his companies
CryptoNewsFlash7h ago
Anthropic sues the U.S. government, demanding the removal of the blacklist and the reinstatement of federal contracts
Gate News Report, March 9 — Litigation documents show that Anthropic has requested the court to issue an order to revoke the U.S. Department of Defense's blacklisting of the company and to restore federal contracts. Previously, Anthropic was listed as a "supply chain risk" company for refusing to remove safety barriers. In the lawsuit, Anthropic argues that the First Amendment of the U.S. Constitution protects its right to set ethical boundaries for its technology without retaliation.
GateNews8h ago
US Treasury Turns to AI to Combat Crypto Fraud After $9B in Losses
The United States Treasury plans to utilize artificial intelligence technology.
Blockchain analytics in the fight against cryptocurrency-related fraud after the total loss exceeded $9 billion.
The officials are of the opinion that the technology can help identify fraud patterns at an early
TheNewsCrypto9h ago
Korea FIU plans to impose a six-month partial suspension on a certain CEX
Gate News Announcement: On March 9, the Financial Intelligence Unit (FIU) of South Korea issued a preliminary notice to a certain CEX for suspected violations of the "Specific Financial Transaction Information Act," engaging in transactions with unreported overseas virtual asset service providers, and inadequate KYC procedures. The exchange has been temporarily suspended for "6 months with partial operation." Responsible personnel will be held accountable. This restriction mainly affects the virtual asset withdrawal function for new users. Existing users' KRW and crypto asset deposits, withdrawals, and trading are temporarily unaffected.
GateNews12h ago
Suspended deposits and withdrawals, sued by customers! Cryptocurrency trading company BlockFills seeks restructuring
Cryptocurrency company BlockFills has suspended customer deposits and withdrawals due to worsening market conditions and legal disputes. They are currently evaluating a debt restructuring plan and have hired consultants to assist. Facing allegations from Dominion Capital and a temporary court injunction, BlockFills is seeking restructuring and improvements to its financial and governance mechanisms.
区块客12h ago
