Australian police charge man over role in alleged $3.5 million crypto investment scam targeting elderly victims

Australian police have charged a 42-year-old man connected to a cryptocurrency investment scheme that allegedly defrauded over 190 elderly and vulnerable individuals of 5 million AUD ($3.5 million). Detectives executed search warrants, arresting the man and charging him with dealing with proceeds of crime related to laundering funds through an online platform called "NEXOpayment." Victims were solicited via social media starting in November 2025, believing they were investing in legitimate products, but their funds were allegedly redirected through multiple crypto wallets in a money-laundering pattern. This action occurs amid heightened regulatory focus on cybercrime in Australia, where investment scams are the highest loss category, costing the community hundreds of millions annually.

(Source：The Block)