CoinDesk
Authorities in Ghana and Nigeria arrested 28 people in a crackdown on West African scam networks tied to cryptocurrency investment fraud. Private-sector partners flagged more than $11 million in funds for possible freezing, while officials reported cryptocurrency seizures without disclosing their value or the assets involved. The operation also identified 117 trafficking victims in Ghana awaiting repatriation to Nigeria.
Why it matters
The U.K. National Crime Agency hosted the first joint operation focused on West Africa, bringing together law enforcement, crypto exchanges, blockchain analytics firms and social media platforms. Binance and Coinbase participated alongside Chainalysis, Elliptic and TRM Labs, with Coinbase saying it helped trace illicit funds, support asset freezes and provide intelligence to investigators.
Coinbase identified more than 65 active scam victims and prevented more than $415,000 in potential losses. TRM Labs said it exposed a large peer-to-peer laundering network. The figures show the role of private-sector data in identifying fraud networks that operate across borders, but the $11 million remains a flagged amount rather than confirmed recovery.
Market impact
The enforcement effort adds pressure to scam networks targeting people in the United States, the United Kingdom and other countries. In Ghana, authorities arrested 19 people near Accra and seized 303 electronic devices. Nigeria reported nine further arrests, while participants provided leads on more than 30 suspected scam centers.
Meta separately removed more than 3.7 million Facebook and Instagram accounts, pages and groups, most appearing to target Americans and Britons through impersonation. For crypto platforms, the operation highlights a constructive use of transaction tracing and coordinated freezes, while leaving the value of confirmed cryptocurrency seizures undisclosed.
Frequently asked questions
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How many people were arrested in the West Africa scam operation?
Authorities arrested 28 people in Ghana and Nigeria. Nineteen arrests took place near Accra, while Nigeria reported nine additional arrests.
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What does the $11 million figure represent?
Private-sector partners flagged more than $11 million in funds that could be frozen. It does not represent confirmed recoveries.
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Which crypto companies participated in the operation?
Binance and Coinbase participated alongside Chainalysis, Elliptic and TRM Labs. Coinbase said it helped trace illicit funds and support asset freezes.
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How did Coinbase contribute to the crackdown?
Coinbase said it identified more than 65 active scam victims, helped trace illicit funds and prevented more than $415,000 in potential losses.
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What role did Meta play in the operation?
Meta removed more than 3.7 million Facebook and Instagram accounts, pages and groups, most of which appeared to target Americans and Britons through impersonation.
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