Nigeria's Economic and Financial Crimes Commission (EFCC) arrested 792 suspects involved in a large-scale cryptocurrency and romance scam operation.
A Global Syndicate Uncovered
The arrested individuals include locals and foreigners, among them 148 Chinese, 40 Filipinos, as well as two Kazakhs, one Pakistani, and one Indonesian. The operation is the largest of its kind in Nigeria's history. Foreigners used the building in Lagos as a training center to instruct Nigerians in these scams.
Romance and Crypto Scams at the Core
The scams, known as 'pig butchering', involve creating fake romantic relationships to lure victims into fake cryptocurrency investment schemes. The suspects targeted primarily Western victims to convince them to invest large amounts into a fraudulent online platform.
The Role of Foreign Nationals
Foreigners trained local Nigerian accomplices in conducting scams using phishing tactics. Chinese criminal syndicates are expanding operations in regions with weaker cybersecurity.
The arrests are a significant step in tackling international crime networks using modern technology to deceive victims worldwide. EFCC continues working with international partners to uncover links to organized crime.
