Mastermind of alleged $53.3B crypto Ponzi scheme arrested in Dubai

David Merino Quintana, a Spanish national accused in a €46 billion ($53.3 billion) crypto Ponzi scheme, was arrested in Dubai on June 1, CriptoNoticias reported. Merino is identified as the de facto head of operations for FX Winning, a cryptocurrency and foreign exchange investment platform. Spanish authorities suspect the platform recruited investors from over 30 countries in the scheme. Initial estimates placed the number of victims at around 5,000, but that figure is now believed to be as high as 15,000.