Nigerian law enforcement has revealed advanced Global encryption fraud in Lagos During a general electronic crime raid.
One of the most coordinated activities against encryption fraud in West Africa this year, the last raid led to 53 people were arrested Of different nationalities.
Among those arrested 29 Chinese citizens, they make up the majority of the suspects, along with citizens of the Philippines, Malaysia, Indonesia and Pakistan.
A huge financial network revealed
The investigation revealed an amazing network of financial transactions, as the authorities seize the assets of $ 200,000. It claims that the network has dealt with more than $ 3 million of illegal money via Genting International Co. Ltd. Her registered company.
The most important are banking records that refer to transactions between April and 2024 with more than 2.26 billion nnesm through one union bank account.
The suspected members of the crypto scam operation. Image credit: EFCC.
The digital arsenal and infrastructure have been seized
The “Eagle Mission” of the Economic and Financial Committee found a large operating base furnished with advanced technologies.
Along with a large stock of computers, mobile phones and tablets, investigators seized about 500 Nigerian SIM cards.
The group offices, which are located in the loud city of Lagos, also include many cars used in daily operations. This discovery confirms on the industrial scope of their deception, with the aim of victims from different continents.
A complex network of fraud and stealing identity
According to the EFCC Crime, the Lagos District (EFCC), among the most interesting stories is the Chinese national story that is supposed to pass to an 28 -year -old American woman named “Lina”, to deceive the naive victims.
The complexity of the process guarantees agreements with the nearby Coded Sellers, who enabled peer circulation to running (Tether). Two of these suppliers – Chukwuemeka Okeke and Alhassan Aminu Garbo – deal with USDT transactions that total $ 2.39 million for the union.
International effects and future influence
In the global campaign against Crime crimesThe arrests determine a major turning point. Among the other charges that the defendants must answer are cyber, plagiarism, and theft of identity.
In addition to a local victory, this issue clarifies how African law enforcement is evolving to combat advanced financial crimes. 792 of the participants in illegal financial transport through the P2P exchange indicates a large network that can extend beyond Nigeria’s borders.
For foreign electronic crime unions that African countries see as a safe havens for their activities, this issue provides a strong message. With the high acceptance of cryptocurrencies all over the world, this last process can be operated by the Nigerian authorities as a model for the upcoming international cooperation against digital financial crimes.
Distinctive image from CNN, tradingView graph
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