Nigeria’s Economic and Financial Crimes Commission (EFCC) has dismantled an international cybercrime and cryptocurrency investment fraud syndicate operating from Lagos. The operation has resulted in the arrest of 792 suspects, including 193 foreign nationals from China, the Philippines, Pakistan, Indonesia, and Kharzartan, along with Nigerian accomplices.

The syndicate orchestrated sophisticated romance scams and fraudulent cryptocurrency investment schemes targeting victims in the United States, Canada, Mexico, and Europe. The operation involved a fake online platform, requiring activation fees starting at $35.

The building, disguised as a legitimate corporate office, served as a training hub where Nigerian recruits were taught to impersonate foreign women, engage in romantic conversations, and lure victims into investing in the fake cryptocurrency schemes. The EFCC recovered high-end desktop computers, over 500 SIM cards linked to Nigerian telecom networks, mobile devices, laptops, and vehicles during the raid.

Nigerian recruits were selected based on computer skills and underwent a two-week training program. They initiated contact with victims via platforms like WhatsApp, Instagram, and Telegram, handing over the defrauding process to foreign handlers. Payments to recruits were made in cash or through personal accounts, authorities said.

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