Binance and Coinbase Join Law Enforcement Crackdown on West African Scam Networks
Authorities Arrest 28 in Crackdown on West African Scams
Authorities in Ghana and Nigeria have arrested 28 individuals in a major operation against West African scam networks. The crackdown targeted groups involved in cryptocurrency investment fraud. This was the first joint operation of its kind focused on the region, according to the U.S. Department of Justice.
The operation involved international law enforcement and several private companies. These partners identified approximately $11 million in funds that could be frozen. Investigators also located 117 trafficking victims in Ghana who were waiting to be sent back to Nigeria.
Critical Numbers from the Investigation
- 28 total arrests made in Ghana and Nigeria.
- $11 million in funds flagged for possible freezing.
- 3.7 million Facebook and Instagram accounts removed by Meta.
- 303 electronic devices seized in Ghana.
- Leads provided on more than 30 suspected scam centers.
What the Department of Justice and National Crime Agency Reported
The U.K.'s National Crime Agency (NCA) hosted the operation, which brought together tech firms and law enforcement. The U.S. Department of Justice (DOJ) stated that the networks targeted victims in the United States, the United Kingdom, and other nations. In the town of Sasaabi, Ghana, officials arrested 19 people, while nine others were taken into custody in Nigeria.
Social media giant Meta also participated in the sweep. The company removed millions of accounts and pages that were used to impersonate others and target users in the U.S. and U.K.
The Role of Major Crypto Exchanges and Analytics Firms
Cryptocurrency exchanges, which are platforms where users buy and sell digital assets, played a key role in the investigation. Coinbase and Binance worked with law enforcement to trace illicit funds. Coinbase reported that it helped identify over 65 active victims and prevented more than $415,000 in potential losses.
Blockchain analytics firms, including TRM Labs, Chainalysis, and Elliptic, also joined the effort. These companies specialize in studying public records of digital transactions. TRM Labs reported that it exposed a large peer-to-peer network used for laundering money.
Verified Information and Seizures
It is confirmed that 28 people were arrested and hundreds of electronic devices were seized during the raids. Authorities confirmed they seized cryptocurrency assets during the operation. Private-sector partners successfully flagged $11 million for potential freezing, though these funds are not yet confirmed as recovered.
Unknown Values and Undisclosed Details
While officials confirmed the seizure of cryptocurrency, they did not disclose the total value of those assets. It is also unclear which specific types of cryptocurrency were involved in the seizures. The exact timeline for the repatriation of the 117 trafficking victims identified in Ghana has not been released.
The Impact on Global Crypto Security
This operation highlights the growing cooperation between international law enforcement and the private crypto industry. By sharing intelligence, exchanges and analytics firms helped authorities locate physical scam centers and trace digital money trails. This collaboration is intended to disrupt fraud networks that target consumers across different borders.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.