The Committee on Economic and Financial Division (EFCC), a law application of the law in Nigeria, has put a major cycle on cryptographic crime with hundreds of potential criminals. Among them, 53 people were officially charged.
Police could not recover only about $ 200,000 in assets, but they have identified nearly $ 3 million in various other deposits. Given the global propagation of crime, it is uncertain how much money this operation has earned in total or where these assets were bleached.
EFCC comes up against cryptographic criminals
According to reports, these crooks carried out several different operations, but they all fell under the open umbrella of cryptographic crimes. These suspects were arrested with 739 other members last December, and all pleaded not guilty.
“The Zonal Directorate of Lagos de l’EFCC, February 3, 2025, translated [53 defendants] Before separate federal lessons sitting in Ikoyi, Lagos. They were arrested for separate accusations limiting alleged cybercrime, cyber-terrorism, identity, possession of documents containing false pretexts and identity theft, among others, “he said.
Last year, Nigeria won international notoriety for being difficult for cryptographic crime, and EFCC maintains this reputation. More specifically, the country has arrested two Binance leaders for a suspicious commercial activity, causing a diplomatic incident with the United States. Finally, he abandoned the accusations, but only after months of negotiation.
The police would have seized more than $ 200,000 in assets. This may seem small compared to some of the main scams in the cryptography market today, but the depth of the crime is still under investigation.
For example, more than 500 local SIM cards, mobile phones, laptop computers and several cars were entered from the union base of the union in Lagos.
The large number of resources suggests that the amount of stolen money could potentially be billions. However, given the global spread of crime, it would be difficult to follow all stolen assets.
The EFCC said that these cryptographic criminals were a very diverse and multinational group. It contained at least 792 members of five or more countries, not to mention Nigeria. Over a nine -month period, they deposited $ 1.5 million in a bank account and sent $ 2.39 million to two launders using P2P transactions.
However, there could be dozens, even hundreds of unknown partners whose funds have not been traced. The EFCC accused these cryptographic criminals of activities which “seriously destabilize the economic and social structure” of Nigeria. It is clear why.
However, their capture is an encouraging point. The law enforcement organizations around the world learn to pursue cryptographic criminals and their methods are improving. These groups cannot escape capture forever.
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