Authorities in Ghana and Nigeria have arrested 28 people in a coordinated crackdown on West African scam networks involved in cryptocurrency investment fraud, according to the U.S. Department of Justice.
The operation brought law-enforcement agencies together with cryptocurrency exchanges, blockchain-analysis companies and social-media platforms. It was hosted by the U.K.’s National Crime Agency and described by the DOJ as the first joint operation of its kind focused on West Africa.
Private-sector participants identified more than $11 million in funds that could potentially be frozen. That figure refers to money flagged for possible action, not confirmed recoveries. Officials also reported cryptocurrency seizures, but did not disclose the value or the digital assets involved.
Arrests, victims and suspected scam centers
Ghanaian authorities arrested 19 people in Sasaabi, near Accra, and seized 303 electronic devices. Nigerian authorities made nine additional arrests, bringing the total reported arrests in the two countries to 28.
The NCA said the operation also identified 117 trafficking victims in Ghana who were awaiting repatriation to Nigeria. The information indicates that the investigation covered not only financial fraud, but also the people and facilities allegedly connected to the scam networks.
Investigators received leads on more than 30 suspected scam centers. The networks reportedly targeted people in the United States, the United Kingdom and other countries, making international cooperation important to tracing money and identifying individuals involved in the schemes.
Cryptocurrency investment scams commonly use online contact, misleading investment opportunities or impersonation to persuade victims to send funds. Blockchain transactions can be publicly recorded, but identifying the people behind wallets and recovering money often requires cooperation among exchanges, analytics firms and law-enforcement agencies.
Exchanges and technology companies take part
Coinbase and Binance participated in the operation alongside Chainalysis, Elliptic and TRM Labs, three firms that provide blockchain-tracing and investigative services.
Coinbase said it helped trace illicit funds, support potential asset freezes and provide intelligence to investigators. The exchange also said it identified more than 65 active scam victims and prevented more than $415,000 in potential losses.
TRM Labs said it uncovered a large peer-to-peer laundering network. Peer-to-peer systems allow individuals to exchange assets directly, and investigators may examine transaction flows and counterparties to identify patterns associated with laundering.
The involvement of exchanges is significant because trading platforms may be able to identify accounts connected to suspicious transfers and act when they receive appropriate legal or investigative requests. However, the reported $11 million should not be interpreted as money already recovered or frozen. The source material specifies that it represents funds flagged for a possible freeze.
Meta, the parent company of Facebook and Instagram, said it removed more than 3.7 million accounts, pages and groups from the two platforms. Most appeared to target people in the United States and the United Kingdom through impersonation, according to the company.
Removing online accounts can disrupt the way scam networks reach potential victims, while leads from platforms and private companies can help investigators locate physical operations. In this case, those efforts contributed to information on more than 30 suspected centers.
Current crypto market picture
Moneyiar market data at 22:08 on October 19, 2026, showed mixed performance among the listed crypto assets:
- BNB was trading at $730.6148473022, up 2.02% over 24 hours but down 1.51% over seven days.
- Sei was at $0.0602537547, gaining 0.19% in 24 hours and falling 7.37% over seven days.
- Horizen stood at $5.9895351489, up 3.71% over 24 hours and down 4.49% over the week.
- BAS was priced at $0.0182334268, up 0.11% over 24 hours and down 15.85% over seven days.
These prices describe broader market conditions and do not indicate that the reported enforcement action affected any of the assets listed above.
The West Africa operation illustrates the range of tools being used against cryptocurrency-related fraud: arrests and device seizures by authorities, transaction tracing by specialist firms, account action by exchanges and removal of social-media infrastructure. While the operation identified potential victims, suspected centers and funds that may be frozen, officials have not disclosed the value of confirmed cryptocurrency recoveries.
