• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

792 Suspects Arrested in Nigeria for Crypto Fraud

user avatar

by Giorgi Kostiuk

3 months ago


In a major operation in Nigeria, 792 individuals suspected of involvement in cryptocurrency romance fraud have been arrested.

Global Syndicate Uncovered

Those arrested include both local and foreign nationals. Among them are 148 Chinese citizens, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian. The operation is the largest of its kind in Nigeria's history, and the suspects are believed to be part of a global network involved in crypto scams and online romance fraud.

Romance and Crypto Frauds at the Core

The scams, known as 'pig butchering', involve creating fake romantic relationships with victims via social media. Once trust is established, scammers persuade victims to invest in fraudulent cryptocurrency schemes. The primary targets were from the USA, Canada, Mexico, and Europe.

Role of Foreign Nationals

Foreign nationals were responsible for training and guiding local Nigerian accomplices in these frauds. These accomplices seek out victims online through phishing and manipulation tactics. According to IFW Global, Chinese crime syndicates are expanding operations in regions with weaker cybersecurity enforcement. These schemes are now spreading to Africa and Eastern Europe, targeting less-regulated markets.

The suspects are currently in custody, and investigations with international partners are ongoing to uncover links to organized crime groups.

0

Share

Other news

VanEck Files for First U.S. BNB ETF

VanEck aims to launch the first BNB ETF in the U.S., strengthening its position in the crypto market.

user avatarGiorgi Kostiuk

a few seconds ago

Crypto Crash: Significant Price Drops on Binance

Major cryptocurrencies like ACT, DEXE, DF lost up to 50% on Binance on April 1, 2025, amid margin changes.

user avatarGiorgi Kostiuk

a minute ago

Sony Singapore Enables USDC Payments for Customers

Sony Singapore begins accepting USDC payments via Crypto.com, planning expansion of cryptocurrency support.

user avatarGiorgi Kostiuk

a minute ago

Florida Elections: The Triumph of Crypto Republicans and Its Significance

Jimmy Patronis and Randy Fine win Florida elections backed by Fairshake PAC, hinting at a shift in US crypto policies.

user avatarGiorgi Kostiuk

2 minutes ago

Cryptocurrency Market Collapse: Binance and its Aftermath

The cryptocurrency market faced serious consequences from the Binance scandal, impacting many altcoins including Act I The AI Prophecy (ACT).

user avatarGiorgi Kostiuk

2 minutes ago

Crypto Analyst Evaluates XRP Bearish Price Scenario

Charting Guy evaluates the potential head-and-shoulders pattern on XRP, hinting it could drop to $1.15.

user avatarGiorgi Kostiuk

2 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.