Crypto Fraud

Spanish crypto influencer Álvaro Romillo has been arrested for allegedly running a €260 million Ponzi-style fraud through his company, Madeira Invest Club. He remains in custody after a court found he posed a flight risk following the discovery of a €29 million offshore account in Singapore.

Hong Kong authorities have formally charged 16 individuals, including influencer and former barrister Joseph Lam Chok, over their alleged involvement in the HK$1.6 billion JPEX cryptocurrency fraud, which is considered to be one of the city’s largest financial crime cases to date.

Former Australian NRL player Trent Merrin has been charged with stealing $140,000 in cryptocurrency and was arrested at his Barrack Point home. Police allege he accessed another person’s crypto account without permission, and he is due to appear in court on 3 December.

Celebrity hairstylist Jawed Habib, his son, and an associate are accused of defrauding over 150 investors of Rs 5–7 crore through a fake crypto scheme. Police say they used his fame to gain trust and have issued lookout notices as investigations continue.

The UK plans to return $7 billion in Bitcoin to Chinese investors after a major fraud case, with the criminals pleading guilty to money laundering. Authorities face challenges tracing claims and distributing the funds due to cross-border complexities and China’s crypto ban.

Sam Bankman-Fried, the disgraced founder of collapsed crypto exchange FTX, has once again spoken out from prison — this time admitting that his “biggest mistake” wasn’t the mismanagement of customer funds, but his decision to hand over control of the company to new management.

It was supposed to be a quiet afternoon stroll in a Bangkok luxury mall. But for one Portuguese journalist, that walk would turn into a global manhunt’s breakthrough — leading to the dramatic arrest of a fugitive crypto scammer behind a $580 million fraud empire.

Two brothers held a Minnesota family hostage for nine hours, forcing the father to transfer $8 million in cryptocurrency to the attackers. They were later arrested in Texas and now face federal and state charges, but the stolen crypto has not been recovered.

Circle is exploring ways to make USDC transactions reversible in cases of fraud or hacks while keeping settlements mostly final. The plan involves its new Arc blockchain, aimed at institutions, to add fraud protection without fully breaking blockchain rules.

Authorities across Europe have shut down a €100 million crypto scam, arresting five people in multiple countries. The fraud tricked investors through fake crypto platforms, taking their money and disappearing with it.