The frozen cryptocurrency wallets related to the protests in Nigeria are still active

ChainCatcher news, according to Decrypt, despite a court order to freeze cryptocurrency wallets associated with the Nigerian EndBadGovernance protesters, these wallets remain active and are conducting transactions.

According to a recent report by local news outlet Premium Times, these wallets contain over $37 million and were ordered to be frozen by Judge Emeka Nwite on July 9. However, an investigation by Techpoint Africa found discrepancies between court documents and blockchain data, suggesting that these wallets may not be fully restricted.

The investigation revealed that one wallet listed in the court records as holding $967 later showed a balance of $172. Another wallet was reported to hold $443,512 but showed a balance of $233,574. This wallet is associated with the cryptocurrency exchange KuCoin, which continues to process transactions, including a recent transfer of $50,000 to an unidentified wallet.

It is reported that the EndBadGovernance protests are a series of nationwide demonstrations triggered by Nigeria's economic crisis. Protesters gathered to oppose rising living costs, record inflation, and increasing food prices, with many blaming President Bola Tinubu's economic reforms.