Nigerian law enforcement has uncovered a sophisticated global crypto scam operation in Lagos during a general cybercrime raid.

One of the most coordinated activities against crypto fraud in West Africa this year, the recent raid resulted in the arrest of 53 people from different nationalities.

Among those arrested were 29 Chinese nationals, forming the majority of the suspects, alongside citizens from the Philippines, Malaysia, Indonesia, and Pakistan.

Massive Financial Network Uncovered

The investigation revealed a staggering web of financial transactions, with authorities seizing assets worth $200,000. The network allegedly handled over $3 million in illicit money via Genting International Co. Ltd. their registered firm.

Even more concerning are bank records indicating transactions between April and December 2024 of over N2.26 billion passing through a single Union Bank account.

The suspected members of the crypto scam operation. Image credit: EFCC.

Digital Arsenal And Infrastructure Seized

The “Eagle Flush Mission” of the Economic and Financial Crime Commission found a large operational base furnished with advanced technologies.

Along with a sizable stockpile of computers, cell phones, and tablets, investigators seized around 500 Nigerian SIM cards.

Nestled amid the bustling city of Lagos, the group’s offices also housed several cars utilized in daily operations. This discovery emphasizes the industrial scope of their deception, aimed at victims from different continents.

Complex Network Of Fraud And Identity
Go to Source to See Full Article
Author: Christian Encila

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details