Nigeria’s anti-corruption agency has arrested 792 suspects in a major operation targeting a fraudulent cryptocurrency investment and romance scam scheme. The perpetrators operated from a multi-story building, deceiving victims into transferring funds under false pretenses. The news was reported by Reuters.
The Economic and Financial Crimes Commission (EFCC) spokesperson Wilson Uwujaren stated that the raid took place on December 10 at the seven-story Big Leaf Building located in Lagos’ commercial district. Among those arrested, 148 are Chinese nationals, and 40 are Filipinos.
Uwujaren explained that the luxurious building functioned as a call center where operatives used social media platforms like WhatsApp and Instagram to reach victims primarily in the United States and Europe. They lured individuals with romantic proposals or promises of lucrative investment opportunities.
Once a victim was ensnared, they were pressured to transfer funds for fake cryptocurrency projects or other fraudulent investments.
“Foreign masterminds used Nigerian collaborators to target victims through online phishing. Their primary targets were citizens of the United States, Canada, Mexico, and various European countries,” Uwujaren said.
He further added, “Once the Nigerians gained the victims’ trust, the foreign operatives executed the subsequent phases of the scam.”
During the operation, EFCC officials seized computers, mobile phones, and several vehicles. The commission is working in collaboration with international partners to investigate links to organized crime behind the scheme.
The incident has sparked widespread international concern, particularly raising fresh anxieties over cryptocurrency-related scams and the vulnerabilities associated with online investments.
