• Police allege greater than 190 aged Australians misplaced over $5 million in a cryptocurrency funding operation involving NEXOpayment.
  • Strike Drive Resaca executed Sydney search warrants, main to 1 cost and a second arrest pending inquiries.
  • Funds have been allegedly routed via a number of crypto wallets in transactions described as in line with cash laundering.

A Sydney man has been charged over an alleged cryptocurrency funding scheme that police say defrauded greater than 190 aged and susceptible Australians of over $5 million since November 2025.

The investigation, led by Strike Drive Resaca, was established in February 2026 by the State Crime Command’s Cybercrime Squad to look at the alleged involvement of two males within the operation. Detectives allege victims have been first approached through social media and inspired to spend money on cryptocurrency. They have been later contacted by somebody posing as an funding adviser and directed to deposit funds right into a digital forex change portal referred to as NEXOpayment.

In line with police, victims believed they have been buying cryptocurrency, shares or different official funding merchandise. As a substitute, the deposited funds have been allegedly channelled via a number of cryptocurrency wallets and digital forex exchanges in a sample described as in line with money-laundering exercise.

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Search Warrants Executed Throughout Sydney

At about 7.30 am on Friday, 20 February 2026, detectives executed search warrants at properties in Strathfield and Cammeray, in addition to at a enterprise in Burwood. Electronics and paperwork related to the investigation have been seized.

A 42-year-old man was arrested in Strathfield and brought to Auburn Police Station, the place he was charged with recklessly coping with proceeds of crime exceeding $5,000 in relation to the alleged laundering of funds via NEXOpayment. He was granted conditional bail and is because of seem earlier than Burwood Native Court docket on 17 March 2026. A 36-year-old man arrested in Cammeray was launched pending additional inquiries.

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