In a major development concerning cryptocurrency-related fraud, authorities in Spain have arrested Álvaro Romillo Castillo, who is believed to be the mastermind behind a vast $300 million crypto pyramid scheme. Castillo reportedly confessed to diverting funds to support a Spanish right-wing Member of the European Parliament. This arrest marks a significant crackdown on financial crimes within the digital asset space, as Castillo now prepares to face court over the extensive alleged fraudulent operation.