Olympic Snowboarder Turned Alleged Crypto Crime Kingpin Arrested in Mexico

Former Olympic snowboarder, Trevor ‘The Apex’ Krumm, 34, was apprehended late Friday night in Tulum, Mexico, ending an 18-month international manhunt. Krumm, who represented the United States in the 2014 Winter Games, is the alleged mastermind behind “ApexCoin,” a sophisticated cryptocurrency scheme that defrauded thousands of investors globally of an estimated $120 million.

U.S. authorities confirmed the arrest, stating Krumm was taken into custody by Mexican Federal Police collaborating closely with the FBI and the U.S. Marshals Service. Krumm’s transition from celebrated athlete to alleged crime boss began in late 2020 with the launch of ApexCoin, a platform he aggressively promoted as a high-yield decentralized finance (DeFi) opportunity.

Prosecutors allege the project was a textbook Ponzi scheme, using the funds of new investors to pay out minor returns to early participants, all while funneling the vast majority of the capital into offshore accounts and luxury assets. The scheme collapsed abruptly in mid-2022, shortly after Krumm vanished from his Miami residence, prompting immediate federal investigations.

Krumm leveraged his public profile and existing social media following to lend credibility to the fraudulent investment platform, targeting retail investors with little knowledge of the crypto market’s complexities. He faces multiple counts of wire fraud, securities fraud, and money laundering.

A spokesperson for the U.S. Attorney’s Office confirmed that extradition proceedings have begun, and Krumm is expected to be returned to the United States within the next few weeks to face trial. The arrest serves as a significant victory for international law enforcement aiming to crack down on high-profile crypto fraud cases that utilize the veneer of athlete endorsements.

Source: Olympic Snowboarder Turned Alleged Crypto Crime Kingpin Arrested in Mexico