A coordinated crackdown on scam networks operating in West Africa has resulted in 28 arrests in Ghana and Nigeria, while private-sector participants identified more than $11 million in funds that could potentially be frozen. The operation targeted criminal networks accused of defrauding people in the United States, the United Kingdom and other countries through cryptocurrency investment scams and other forms of fraud.
The initiative brought together law enforcement agencies, technology companies and cryptocurrency specialists to identify suspected fraud networks, trace illicit funds and support investigations. Binance and Coinbase participated alongside blockchain analytics firms Chainalysis, Elliptic and TRM Labs.
The financial figure requires an important distinction: the more than $11 million represents funds flagged for a possible freeze, not confirmed recoveries. Authorities and participating companies also reported cryptocurrency seizures, but did not disclose the value or assets involved.
Coinbase said it helped investigators trace suspected illicit funds, support asset freezes and provide intelligence. The exchange also identified more than 65 active scam victims and helped prevent more than $415,000 in potential losses. Meanwhile, TRM Labs reported uncovering a large-scale peer-to-peer network used to launder money.
The enforcement operation led to arrests in both countries. In Sasaabi, near Accra, Ghanaian authorities arrested 19 people and seized 303 electronic devices. Nigerian authorities arrested another nine people, bringing the total number of arrests to 28.
The operation also uncovered a significant human-trafficking dimension. According to the National Crime Agency, 117 trafficking victims were identified in Ghana while awaiting repatriation to Nigeria. Investigators also supplied law enforcement with leads concerning more than 30 suspected scam centers, expanding the potential scope of follow-up investigations.
Social media activity was another focus. Meta removed more than 3.7 million Facebook and Instagram accounts, pages and groups, most of which appeared to target Americans and Britons through impersonation. The removals highlighted how online platforms can be used to identify and reach potential victims before fraudulent investment schemes move into financial transactions.
For the cryptocurrency industry, the operation demonstrates how exchanges and blockchain analytics firms can contribute to investigations by tracing transaction flows, identifying suspicious activity and helping authorities pursue potential asset freezes. However, participation in the operation does not mean that all flagged funds have been recovered or that every suspicious transaction has been linked to a confirmed crime.
The crackdown was hosted by the U.K.'s National Crime Agency and was described by the U.S. Department of Justice as the first joint operation of its kind focused on West Africa. Its results point to a coordinated approach that combines financial investigations, platform enforcement and action against suspected criminal networks.
The next measure of its impact will be whether investigators can turn intelligence and potential leads into further arrests, confirmed seizures and recoveries for victims. For now, the operation has identified substantial potentially illicit funds and disrupted suspected scam activity, but the final financial recovery remains unclear.
