Running from Spain to Dubai, with behind-the-scenes operations for three years—why do scammers’ old playbook tricks still fool someone every time?

According to CryptoNoticias, news from Coin World states that Spanish citizen David Merino was arrested in Dubai on suspicion of leading the crypto Ponzi scheme FX Winning. The scam involves more than €460 million and affects around 15,000 investors; it is the largest cryptocurrency-related case in Spain’s investigation history. After Merino left the company in 2021, he continued operating behind the scenes, attracting funds by promising high returns on foreign exchange and crypto investments, involving about 30 countries. Spain has 15 to 40 days to submit extradition documents. In addition, FX Winning is also under investigation in the United States and Mexico; the U.S. Drug Enforcement Administration claims it is involved in $100 billion.