According to BlockBeats, the Nigerian Economic and Financial Crimes Commission (EFCC) announced the arrest of nearly 800 people involved in cryptocurrency romance scams. The arrest took place in a seven-story building, believed to be a criminal den.
The suspects have not yet been formally charged, and the EFCC has not disclosed the amount of funds stolen by the fraud gang. The building is equipped with high-end desktop computers, and 500 SIM cards were found on the fifth floor alone.
The staff of the fraud operation received two weeks of training and learned how to impersonate foreign women to conduct love scam chats and lure victims into investing in cryptocurrency scams.