Nigeria intensified its crackdown on cybercrime by arresting 792 individuals suspected of involvement in large-scale cryptocurrency scams.
A Global Syndicate Uncovered
Among those arrested are 148 Chinese nationals, alongside Filipinos, Kazakhs, a Pakistani, and an Indonesian. This operation is the largest of its kind in Nigeria, uncovering an international syndicate involved in crypto scams and romance frauds.
Romance and Crypto Scams at the Core
Scams known as 'pig butchering' involved creating fake romantic relationships on social media. The suspects allegedly convinced Western victims from countries like the USA and Canada to invest in a fraudulent crypto platform, which required initial fees and further investments.
The Role of Foreign Nationals
Foreign nationals trained Nigerian accomplices on execution techniques. Under their guidance, Nigerians scouted for victims online, employing phishing and other manipulative tactics. According to Ken Gamble from IFW Global, Chinese syndicates are expanding into regions with weak cybersecurity.
The suspects are in custody as investigations continue with international partners.
