Nigeria arrests 800 in major crypto scam raid

A major crypto romance scam operation in Nigeria that targeted North Americans and Europeans has been raided by police, with nearly 800 suspects arrested.

Nigeria’s Economic and Financial Crimes Commission (EFCC) said that the seven-story Big Leaf Building in Lagos was stormed on December 10, where 792 suspected fraudsters were arrested.

Chinese nationals made up 148 of the arrests, the EFCC said, while 40 were Filipino. Computers, phones, and cars were also seized in the raid.

The suspects are believed to have run a major crypto scam in Nigeria that contacted victims through social media. After seduction, they were told of exciting crypto investment opportunities that falsely promised great returns.

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“Nigerian accomplices were recruited by the foreign kingpins to prospect for victims online through phishing,” said EFCC spokesperson Wilson Uwujaren, “targeting mostly Americans, Canadians, Mexicans and several others from European countries.”

“Once the Nigerians are able to win the confidence of would-be victims, the foreigners would take over the actual task of defrauding the victims.” Uwujaren added (via Reuters).

According to the Commission, the crypto scam operation in Nigeria mostly targeted Canadians, Americans, Mexicans, and Europeans.

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