efcc

ChainCatcher news, according to CryptoDnes, the Economic and Financial Crimes Commission (EFCC) of Nigeria has dismantled a cryptocurrency scam gang, arresting 53 individuals suspected of cyber crimes, including identity theft and fraud.Currently, authorities have recovered approximately $200,000 in assets, but investigations indicate that deposits related to the operation could be as high as $3 million.

ChainCatcher news, the Nigerian government has filed criminal charges against four individuals and multiple companies, accusing them of illegally conducting cryptocurrency transactions without holding a banking license, including exchanging USDT for Naira.The four defendants are Ejiogu A. Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley, and Chukwuebuka F. Ogumba. They are charged with violating the Banks and Other Financial Institutions Act and the Foreign Exchange Act.This case stems from an investigation by the Economic and Financial Crimes Commission (EFCC) into alleged manipulation of the Naira exchange rate and money laundering through virtual cryptocurrency trading platforms.Previous news, the Economic and Financial Crimes Commission (EFCC) has obtained court approval to freeze over $330,000 (5.486 billion Naira) of suspicious funds deposited in cryptocurrency users' bank accounts.

ChainCatcher news, according to Bitcoin.com, the Economic and Financial Crimes Commission (EFCC) of Nigeria has obtained court approval to freeze over $330,000 (5.486 billion naira) of suspicious funds deposited in cryptocurrency users' bank accounts. The agency believes that these bank accounts have contributed to the ongoing devaluation of its national currency.The affected bank accounts are owned by cryptocurrency users trading on global platforms such as KuCoin. The EFCC suspects that the frozen funds were used for malicious cryptocurrency trading to manipulate prices.