- Nigeria deports foreign nationals in crypto fraud case.
- EFCC leads the law enforcement operation.
- Operation’s impact extends to 18 African countries.
Nigeria deported over 100 foreign nationals, including 60 Chinese and 39 Filipinos, convicted in large-scale crypto romance scams after a federal court ruling and EFCC-led operation.
The event underscores Nigeria’s increasing cybercrime crackdown, impacting global victims across several countries, though no immediate on-chain market shifts are reported.
Nigeria has deported over 100 foreign nationals, including 60 Chinese and 39 Filipinos, convicted for orchestrating crypto romance scams. The Economic and Financial Crimes Commission (EFCC) led these operations, marking a significant law enforcement initiative.
The EFCC spearheaded “Eagle Flush,” resulting in significant arrests and deportations. The operation was part of a broader crackdown on cyber fraud. Dele Oyewale of the EFCC confirmed these deportations, emphasizing the agency’s dedicated efforts.
These scams have affected victims across countries like the US, Canada, and Europe. They employed fraudulent crypto investment schemes, leveraging well-known cryptocurrencies. Millions in assets were reportedly extracted from unaware victims.
The economic impact includes financial losses for victims and potential reputational damage to legitimate crypto operations. The crackdown could also serve as a deterrent for future cybercriminal activities in the region.
While the operation showcases increased law enforcement coordination, specific financial metrics like on-chain value shifts remain unreported. No blockchain foundations have been implicated, but institutional monitoring continues.
Insights suggest increased scrutiny and enhanced regulatory measures could follow. Historical data indicates that similar crackdowns have limited direct market impact, although long-term vigilance remains crucial to safeguarding crypto ecosystems.
