On December 10, 792 individuals who were part of fake cryptocurrency and online relationship scams were detained by The Economic and Financial Crimes Commission (EFCC) in a large-scale raid in Lagos.
The arrests included 40 Filipino and 148 Chinese nationals, along with local Nigerian participants.
EFCC spokesperson Wilson Uwujaren explained that Nigerian participants were responsible for identifying potential victims online. After building a connection, foreign operators handled the financial part of the fraud.
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The suspects were found in a seven-story building called the Big Leaf Building, which was reportedly used as a call center to target victims abroad.
According to Uwujaren, the group mainly focused on individuals in the Americas and Europe. He said:
Nigerian accomplices were recruited by the foreign kingpins to prospect for victims online through phishing, targeting mostly Americans, Canadians, Mexicans, and several others from European countries.
The fraudulent scheme worked through social media platforms like WhatsApp and Instagram.
Local recruiters, acting as the first point of contact, would build trust with victims. Once the victims showed interest, foreign organizers pressured them into transferring money to fake cryptocurrency projects. This type of scam is often referred to as “pig butchering”.
Uwujaren added that the EFCC seized phones, computers, and vehicles as evidence during the raid. Authorities are now working with international partners to investigate possible ties to organized crime.
While authorities in Nigeria suppressed crypto scams, similar efforts were made worldwide. In Poland, officials recently captured the former head of WEX, a platform linked to $450 million in missing funds. How did the case unfold? Read the full story.
