26 Israelis held in joint operation with FBI for forex fraud

Israel's police said on Wednesday that 26 Israelis were arrested on suspicion of massive fraud related to foreign exchange cryptocurrency transactions in a joint operation with the Federal Bureau of Investigation (FBI), reported Xinhua.

The suspects allegedly conned "tens of millions of shekels" (millions of U.S. dollars) from dozens of American citizens under the guise of digital forex trading, the police said in a statement.

All of the suspects were arrested in Tel Aviv, it said.

The arrests were part of "coordinated arrests operation taking place simultaneously in several different countries by overseas law enforcement authorities," the statement read.