BlockBeats news, on December 17, the Economic and Financial Crimes Commission (EFCC) of Nigeria stated that nearly 800 people have been arrested nationwide in connection with cryptocurrency romance scams. The arrests took place in a seven-story building, believed to be a crime den. Olukoyede stated that the building looked like the headquarters of a financial institution.
These suspects have not yet been formally charged, and the EFCC has not disclosed how much money the romance scam gang stole from the victims. The building was equipped with 'high-end desktop computers', and 'on just the fifth floor, law enforcement found 500 SIM cards'.
The staff of the scam operation were equipped with computers and mobile phones, and underwent 'two weeks of training to learn how to impersonate foreign women in romance scam chats and persuade victims to invest in their employer's cryptocurrency scam'.