Crypto firms including Binance and Coinbase join West Africa anti-fraud initiative, identifying $11 million in freezeable funds

The U.S. Department of Justice announced in a statement that Ghanaian and Nigerian authorities arrested 28 individuals during a law enforcement operation targeting a West African fraud network linked to cryptocurrency investment scams, as reported by CoinDesk. The UK’s National Crime Agency (NCA) noted that the operation also uncovered 117 victims of human trafficking in Ghana, who are awaiting repatriation to Nigeria. Additionally, private-sector partners identified over $11 million in funds eligible for freezing. Hosted by the NCA, the operation brought together technology firms and law enforcement agencies to dismantle fraud networks targeting citizens of the U.S., UK, and other countries. The Department of Justice stated this is the first such joint operation specifically focused on West Africa. Participating entities include cryptocurrency exchanges Coinbase and Binance, as well as blockchain analytics firms Chainalysis, Elliptic, and TRM Labs.