Crypto firms including Binance and Coinbase participated in a West African scam crackdown, flagging over $11 million in funds for potential freezing.
Crypto companies like Binance and Coinbase collaborated with law enforcement in a crackdown on West African scam networks. During the operation, private sector partners flagged over $11 million in potentially frozen funds, while law enforcement reported cryptocurrency seizures without disclosing specific values. Authorities in Ghana and Nigeria arrested 28 individuals and identified 117 trafficking victims. Coinbase assisted in tracing illicit funds and providing intelligence during the operation, preventing potential losses exceeding $415,000. Meta also removed over 3.7 million social media accounts suspected of impersonating individuals to scam users in the US and UK.
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