EddieJayonCrypto
17 Dec 24
The Nigerian Economic and Financial Crimes Commission has arrested 792 suspects in connection to cryptocurrency investment fraud and romance scams. The arrests were made in a sting operation at a seven-story building, which served as a hub for the fraudulent activities. The suspects include foreign ...
The Nigerian Economic and Financial Crimes Commission has arrested 792 suspects in connection to cryptocurrency investment fraud and romance scams. The arrests were made in a sting operation at a seven-story building, which served as a hub for the fraudulent activities. The suspects include foreign nationals who were involved in training Nigerians to carry out these scams. The scam operation targeted individuals from various countries, using phishing to lure victims online. The suspects have not been charged, and the EFCC has not disclosed the amount of money stolen. Additionally, the EFCC seized high-end desktop computers and 500 SIM cards during the operation. EFCC Executive Chairman Ola Olukoyede announced that the enforcement actions had led to the arrests. The sting operation took place in a seven-story building that resembled a corporate headquarters. The suspects have not yet been charged, and the EFCC has not yet disclosed the amount of money stolen. They recovered high-end desktop computers and 500 SIM cards, mostly with foreign phone numbers. The scheme involved Nigerian workers being trained to impersonate foreign females in romance scam chats and convince victims to invest in cryptocurrency scams. The suspects included 148 Chinese nationals, 40 Filipinos, two Kharzartans, one Pakistani, and one Indonesian, who were reportedly involved in training Nigerians for these scams. Olukoyede emphasized the crackdown on criminal activities taking advantage of Nigeria's reputation as a fraud haven. This operation demonstrates that criminals will have no hiding places in Nigeria. This announcement follows a similar report from Hong Kong, where police dismantled a deepfake romance scam defrauding individuals of approximately $46 million through fraudulent cryptocurrency investments.