792 cryptocurrency fraudsters arrested in Nigeria

On December 10, law enforcement agencies arrested 792 cryptocurrency fraudsters in one go in Nigeria, snatching digital assets and fiat currency from people from all corners of the world.

Law enforcers received information that illegal activities were taking place in a seven-story building called “Big Leaf” on Victoria Island. The Economic and Financial Crimes Commission then raided the building and arrested 792 people, including 148 Chinese, 40 Filipinos and many other nationalities.

Arrested swindlers, the “Big Leaf” building, the place of work of swindlers in the photo report of law enforcers

Investigators found out that after being hired for at least two weeks, the newcomers were taught the tricks of the trade. They were told how to start romantic relationships with victims, posing as women, and how to conduct conversations on business topics. Then the crooks created accounts on social networks and messengers, began communicating with men and offered them to invest money in dubious enterprises, promising them high dividends.

After establishing contact with future victims, the ordinary crooks passed the correspondence to more experienced fraudsters, who ran the scams. If successful, the proceeds were divided among all participants in the fraudulent scheme, and the employees of the office located in Nigeria were paid in cash. Nigerian law enforcers are working with law enforcers from other countries to identify the organizers of the underground business and capture them. How many people suffered at the hands of the attackers and how much they managed to earn is not yet reported.