West African Crypto Fraud Networks Hit as 3.7 Million Fake Accounts Disappear
An international crackdown on cryptocurrency fraud networks in West Africa has led to 28 arrests and the removal of 3.7 million fraudulent social media accounts. Authorities also identified more than $11 million in potentially freezable funds linked to suspected criminal operations.
The U.S. Department of Justice announced the results on October 13, following a coordinated enforcement campaign targeting scam centers in Ghana and Nigeria.
The operation brought together law enforcement agencies, cryptocurrency companies, and technology platforms to disrupt financial fraud networks targeting victims worldwide.
Authorities Target Crypto Fraud Networks in Ghana and Nigeria
The campaign, called Joint Disruption Week, began October 6 and involved international investigators working alongside private technology companies.
In Ghana, authorities arrested 19 suspects in Sasaabi, near Accra, and seized 303 electronic devices. Investigators also identified 117 human trafficking victims awaiting repatriation to Nigeria.
Additionally, officials identified 89 fraud victims who collectively suffered approximately $8.3 million in losses.
Meanwhile, Nigerian authorities arrested nine suspects and confiscated 53 electronic devices.
Investigators targeted several fraudulent activities, including cryptocurrency investment scams, impersonation schemes, and digital extortion operations.
Many schemes involved criminals building relationships with victims before persuading them to transfer money into fraudulent cryptocurrency investments.
Technology Companies Remove Millions of Fraudulent Accounts
The crackdown extended beyond physical raids, targeting the digital infrastructure that scammers used to reach potential victims.
Meta removed more than 3.7 million Facebook and Instagram accounts, pages, and groups associated with fraudulent activity.
Furthermore, participating companies shared intelligence concerning more than 30 suspected scam centers.
Cryptocurrency exchanges Coinbase and Binance joined blockchain analytics firms and other technology providers in supporting the operation.
Coinbase separately identified more than 65 active scam victims and prevented over $415,000 in potential losses.
Private-sector investigators also identified more than $11 million in funds that authorities could potentially freeze.
However, identifying recoverable assets does not guarantee their seizure or eventual return to victims.
Rising Cryptocurrency Fraud Losses Drive Global Enforcement
The operation comes amid mounting financial losses from cryptocurrency investment fraud.
According to FBI figures, reported losses involving cryptocurrency investment scams exceeded $7.2 billion in 2025, representing a 24% annual increase.
Cryptocurrency-related fraud accounted for 72% of reported investment scam complaints that year.
Authorities increasingly view coordinated enforcement as essential because criminal networks operate across national borders and multiple digital platforms.
The West African crackdown highlights a broader strategy combining arrests, financial investigations, and platform account removals.
Officials expect continued international cooperation to help dismantle fraudulent networks and limit their access to potential victims.
