A Wellington man has been arrested as part of an FBI investigation into an organised criminal group which is alleged to have stolen cryptocurrency valued at $450 million.

Detective Inspector Christiaan Barnard said 13 people faced charges, after search warrants were executed in Auckland, Wellington, and California.

The man was arrested by the Financial Crime Group in Auckland, one of several people taken into custody following the search warrants, but the only one from New Zealand.

It is alleged that between March and August 2024, the cryptocurrency was obtained by fraud, namely, by manipulating seven victims, and subsequently laundered through multiple cryptocurrency platforms.