The Nigerian Economic and Financial Crimes Commission has arrested nearly 800 people nationwide in connection to crypto romance scams, the agency said.

EFCC Executive Chairman Ola Olukoyede recently announced that the regulator’s enforcement actions led to the arrest of 792 suspects allegedly involved in cryptocurrency investment fraud and romance scams.

The arrests took place on Tuesday as part of a sting operation in a purported crime den located in a seven-story building “which could be mistaken for a corporate headquarters of a financial establishment,” he said.

The suspects have not yet been charged and the EFCC has not yet said how much money it thinks the romance scam operation stole from victims.

He went on to say that the building had been set up with “high-end desktop computers,” adding that agents recovered “500 SIM cards on the fifth floor alone.”

Many of the scammers working there had been assigned foreign phone numbers, mostly German and Italian, according to inves

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Author: Adrian Zmudzinski