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Binance and Coinbase join West Africa cryptocurrency scam crackdown
An international law enforcement operation targeting cryptocurrency investment scams and fraud networks in West Africa has resulted in the arrest of 28 suspects in Ghana and Nigeria.
Hosted by the UK National Crime Agency in London, the coordinated effort involved the U.S. Department of Justice and private sector partners, including cryptocurrency exchanges Binance and Coinbase, as well as blockchain analysis firms Chainalysis, Elliptic, and TRM Labs. Investigators identified $11 million in funds that are potentially available for freezing.
In Ghana, authorities arrested 19 individuals in Sasaabi and seized 303 electronic devices. The operation also identified 117 trafficking victims in Ghana who were awaiting repatriation to Nigeria. In Nigeria, nine people were arrested and 53 devices were confiscated.
Meta reported removing 3.7 million suspicious accounts, pages, and groups from Facebook and Instagram linked to these activities. Coinbase noted that it helped prevent over $415,000 in potential losses and identified more than 65 victims.
Entities
Binance · Coinbase · Meta · National Crime Agency · U.S. Department of Justice · UK National Crime Agency · United States Department of Justice
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Authorities identified 117 trafficking victims in Ghana awaiting repatriation to Nigeria. www.criptonoticias.com.br · crypto.news · www.tokenpost.com
- [● 3 SOURCES] Coinbase reported preventing over $415,000 in potential fraud losses and identifying more than 65 victims. www.criptonoticias.com.br · crypto.news · www.tokenpost.com
- [● 2 SOURCES] The UK National Crime Agency hosted the coordinated operation in London from October 6 to 9. crypto.news · www.tokenpost.com
- [● 3 SOURCES] The operation resulted in the arrest of 28 people. www.criptonoticias.com.br · crypto.news · www.tokenpost.com
- [● 2 SOURCES] Ghanaian authorities arrested 19 people in Sasaabi and seized 303 electronic devices. crypto.news · www.tokenpost.com
- [○ 1 SOURCE] Nigerian officials arrested nine people and confiscated 53 devices. www.tokenpost.com
- [● 2 SOURCES] Meta removed 3.7 million fake accounts, pages, and groups linked to the scam activity. www.criptonoticias.com.br · www.tokenpost.com
- [● 3 SOURCES] Private sector partners identified $11 million in funds potentially available for freezing. www.criptonoticias.com.br · crypto.news · www.tokenpost.com