Nigeria's Economic and Financial Crimes Commission (EFCC) made mass arrests, detaining 792 people suspected of engaging in large-scale cryptocurrency and romance scams.
Global Syndicate Uncovered
The arrested individuals include both local and foreign nationals, such as 148 Chinese, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian. According to EFCC spokesperson Wilson Uwujaren, the operation is the largest of its kind in Nigeria's history. He highlighted that the suspects were part of a global network orchestrating crypto scams and online romance frauds.
Romance and Crypto Scams at the Core
The scams involved creating fake romantic relationships on social media to deceive victims into investing in bogus cryptocurrency schemes. The primary targets were residents of the USA, Canada, Mexico, and Europe. The fake online platform, *yooto(.)com*, charged victims a $35 activation fee to create an account, followed by further payments. Communication occurred via messaging platforms like WhatsApp and Telegram, with accounts linked to foreign numbers.
The Role of Foreign Nationals
According to Uwujaren, the foreign nationals involved were responsible for training local Nigerian accomplices to commit the fraud via online tactics. Ken Gamble, co-founder of cybercrime investigation firm IFW Global, stated that Chinese crime syndicates are expanding operations in regions with weaker cybersecurity, establishing operations in Africa and Eastern Europe, targeting less-regulated markets.
The individuals involved are currently in custody, and the EFCC is working with international partners to investigate connections between these operations and organized crime groups.
