Australian Man Charged in $3.5M Crypto Scam Targeting Elderly
Australian police have charged a man after tracing approximately $3.5 million in stolen funds to the NEXOpayment portal. Authorities say the money is believed to have been taken from 190 elderly investors and routed through the portal, which investigators have connected to suspected laundering activity. The charge follows a targeted investigation into how the funds moved through crypto payment channels and into accounts tied to the alleged operator.
The case underscores ongoing risks for vulnerable savers and the ways bad actors exploit digital payment services. Law enforcement said the investigation is continuing and that further arrests or asset recovery efforts are possible. Regulators and platforms are likely to face renewed scrutiny over AML and KYC practices, and authorities are urging victims and anyone with information to come forward as they pursue restitution and additional leads.