On December 10, a major operation in Lagos, Nigeria, led to the arrest of 792 people. Among those arrested were 148 Chinese and 40 Filipino nationals, suspected of involvement in a large-scale crypto romance scam.
EFCC's Massive Raid
Nigeria’s Economic and Financial Crimes Commission (EFCC) conducted a raid on a suspected crypto scam hub that defrauded victims across North America, Europe, and Mexico. Known as 'pig butchering,' this scheme combines romance scams with fake cryptocurrency investments.
Role of Chinese Organized Crime Groups
The arrested individuals allegedly operated under the command of foreign syndicates, primarily Chinese leaders who provided advanced infrastructure and funding. Cybercrime investigator Ken Gamble noted that Chinese crime groups are moving operations to regions with weaker cybersecurity.
EFCC Collaboration in Fighting Crypto Scams
The EFCC is working with international partners to assess whether the Lagos operation has broader links to global organized crime. The rise of 'pig butchering' schemes highlights the need for global cooperation in combating such scams.
The complexity of the operation and its international scope underline the need for closer cooperation and enhanced cybersecurity to deter similar fraudulent schemes in the future.
