New South Wales police have charged a 42-year-old Sydney man with orchestrating a $3.5 million cryptocurrency investment scam targeting over 190 elderly and vulnerable investors. Victims were reportedly lured via social media to invest in a platform called "NEXOpayment," which promised returns on crypto and stock investments. The funds were allegedly funneled through multiple crypto wallets and exchanges, exhibiting characteristics of money laundering.On February 20, police conducted searches in Strathfield, Cammeray, and Burwood, seizing electronic devices and documents. The suspect has been released on bail and is scheduled to appear in court on March 17. A 36-year-old man was also questioned and released following the investigation.