Binance And Coinbase Join West Africa Scam Crackdown As 28 Arrested

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The arrest count is striking, but the scale of the online infrastructure removed may be the bigger story. An international effort against West African scam networks has resulted in 28 arrests, while technology companies say they removed more than 3.7 million accounts, pages and groups linked to fraudulent activity. TL;DR: The US Justice Department says its October crackdown led to 28 arrests in Ghana and Nigeria. Binance and Coinbase were among the industry participants, and partners identified more than $11 million in potentially freezable funds, not confirmed recoveries. The operation, called Joint Disruption Week, brought investigators together at the UK’s National Crime Agency in London during the week beginning October 6. Authorities targeted networks accused of investment fraud, impersonation and other online schemes that reach victims well beyond West Africa. According to the Justice Department’s October 13 announcement, Ghanaian authorities arrested 19 people and seized 303 electronic devices in an operation near Accra. Nine more arrests were reported in Nigeria. Investigator...