According to Beincrypto, the Economic and Financial Crimes Commission (EFCC) of Nigeria has dismantled a large cryptocurrency criminal gang and arrested hundreds of potential criminals, of whom 53 have been formally charged. The police have only recovered about $200000 in assets, but have confirmed the existence of nearly $3 million in other types of deposits. Given the global spread of criminal activities, the total amount involved in this operation and the location of the money laundering of these assets are still uncertain.
According to reports, these fraudsters have carried out multiple different actions, but all fall within the scope of cryptocurrency crimes. Last December, the police arrested these suspects and 739 other members, all of whom pleaded not guilty to the charges. The large amount of resources seized indicates that the stolen amount may reach billions. However, given the global spread of crime, tracking all stolen assets will be extremely challenging. EFCC claims that these cryptocurrency criminals are a diverse and transnational criminal group with at least 792 members from five or more countries (excluding Nigeria). However, there may be dozens or even hundreds of unknown accomplices whose funds have not yet been traced
