From CoinDesk · By Francisco Rodrigues, AI Boost
Authorities arrested 28 people in Ghana and Nigeria in a crackdown on scam networks linked to cryptocurrency investment fraud.
Private-sector partners flagged $11 million in funds that could be frozen, while officials reported cryptocurrency seizures without disclosing their value.
Meta removed more than 3.7 million Facebook and Instagram accounts, pages and groups, while investigators received leads on over 30 suspected scam centers.
Authorities in Ghana and Nigeria arrested 28 people in a crackdown on West African scam networks that included cryptocurrency investment fraud, the U.S. Department of Justice said in a statement.
The operation also identified 117 trafficking victims in Ghana who were awaiting repatriation to Nigeria, according to the U.K.'s National Crime Agency (NCA), and saw private companies identify more than $11 million in funds that could be frozen.
Partners also reported cryptocurrency seizures but did not disclose their value or the assets involved. The $11 million represents funds flagged for a possible freeze, not confirmed recoveries.
The NCA hosted the operation that brought tech firms and authorities together, to target networks targeting people in the U.S., U.K. and other countries. The DOJ described it as the first such joint operation focused on West Africa.
Crypto exchanges Coinbase and Binance participated alongside blockchain analytics firms Chainalysis, Elliptic and TRM Labs. Coinbase said it helped trace illicit funds, support asset freezes and provide intelligence to investigators. It identified more than 65 active scam victims and prevented more than $415,000 in potential losses. TRM Labs said it exposed a large-scale peer-to-peer laundering network.
In Sasaabi, near Accra, Ghanaian authorities arrested 19 people and seized 303 electronic devices. Nine more people were arrested in Nigeria.
Social media giat Meta said it removed more than 3.7 million Facebook and Instagram accounts, pages and groups, most of which appeared to target Americans and Britons through impersonation.
Participants also provided law enforcement with leads on more than 30 suspected scam centers.