{"id":148967,"date":"2025-02-08T14:00:33","date_gmt":"2025-02-08T12:00:33","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=148967"},"modified":"2025-02-08T02:11:34","modified_gmt":"2025-02-08T00:11:34","slug":"massive-crypto-fraud-ring-dismantled-in-nigeria-53-charged-and-assets-seized","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/massive-crypto-fraud-ring-dismantled-in-nigeria-53-charged-and-assets-seized\/","title":{"rendered":"Massive Crypto Fraud Ring Dismantled in Nigeria, 53 Charged and Assets Seized"},"content":{"rendered":"<p>A total of 53 individuals are <strong><a href=\"https:\/\/www.efcc.gov.ng\/efcc\/news-and-information\/news-release\/10655-efcc-arraigns-29-chinese-10-filipinos-three-others-for-alleged-internet-fraud-in-lagos\">facing<\/a> <\/strong>charges related to cybercrimes, including identity theft and fraud, after a significant crackdown. The authorities managed to recover about $200,000 in assets, although investigations suggest there could be up to $3 million in deposits tied to the operation.<\/p>\n<p>This crime syndicate, operating across multiple countries, was engaged in various illegal crypto schemes. The EFCC arrested hundreds of members in December, with many of the accused denying the charges in court. The vast operation spanned several regions, but the full extent of the funds involved remains unclear, with law enforcement still working to trace the illicit money.<\/p>\n<p>Despite the relatively modest seizure of physical assets, including mobile phones and vehicles, the scale of the criminal enterprise suggests the stolen funds could total billions.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/coinbase-expands-its-token-offerings-with-new-altcoins-on-evaluation-roadmap\/\" title=\"Coinbase Expands Its Token Offerings with New Altcoins on Evaluation Roadmap\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/09\/coinbase-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Coinbase Expands Its Token Offerings with New Altcoins on Evaluation Roadmap<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The group was reportedly linked to at least 792 people, with money laundering conducted through peer-to-peer transactions and substantial bank deposits. The criminal activities were seen as a serious threat to Nigeria\u2019s economic stability.<\/p>\n<p>This case highlights the growing effectiveness of global law enforcement in tackling crypto-related crime. While the investigation is ongoing, the capture of such a large network demonstrates progress in cracking down on digital fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Economic and Financial Crimes Commission (EFCC) in Nigeria has dismantled a major cryptocurrency fraud ring, arresting a large number of suspects involved in illicit activities.<\/p>\n","protected":false},"author":9,"featured_media":1558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-148967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Massive Crypto Fraud Ring Dismantled in Nigeria, 53 Charged and Assets 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