Catenaa, Wednesday, December 18, 2024 – Nearly 800 individuals, including 148 Chinese and 40 Filipino nationals, have been arrested in connection with a large-scale cryptocurrency-romance scam targeting victims in North America and Europe.
Nigeria’s Economic and Financial Crimes Commission (EFCC) conducted the December 10 raid on the Big Leaf Building, a luxury seven-story property in Lagos, believed to be the headquarters of the operation.
The suspects used social media platforms like Instagram and WhatsApp to lure victims with false promises of romance or lucrative cryptocurrency investments, said EFCC spokesperson Wilson Uwujaren.
Victims, once emotionally or financially entrapped, were pressured to transfer funds into fraudulent cryptocurrency schemes.
The operation allegedly recruited Nigerian accomplices to establish initial contact with victims, after which foreign “kingpins” executed the scams.
The EFCC seized computers, phones, and vehicles during the raid and is collaborating with international partners to uncover potential links to organized crime.
“The victims, mostly from the Americas and Europe, were seduced through phishing tactics before being defrauded by these foreign operatives,” Uwujaren explained.
The arrests spotlight the increasing global threat of cyber-enabled financial scams, particularly those targeting vulnerable individuals through online platforms.
