INTERPOL busts $562m Crypto Ponzi scheme, arrests 11 suspects in Nigeria

A joint international crackdown led by INTERPOL and AFRIPOL has uncovered a massive cryptocurrency-based Ponzi scheme, resulting in multiple arrests across Africa — including 11 suspects in Nigeria.

The coordinated two-month operation, codenamed “Operation Catalyst,” was conducted between July and September 2025 and targeted financial crimes linked to money laundering and terrorism financing on the continent.

INTERPOL described the exercise as the first of its scale in Africa, leading to 83 arrests across six countries, including Nigeria, Kenya, and Angola.

Investigators identified more than 160 persons of interest and traced illicit funds worth about $260 million in both fiat and digital currencies.

In Nigeria, authorities arrested 11 suspected terrorists, some of whom are believed to be senior members of extremist groups.

Investigations revealed that they were connected to a global crypto investment network operating under the guise of a legitimate trading platform, which was later discovered to have ties to terrorist financing.

According to INTERPOL, the fraudulent network spanned 17 countries, including Cameroon and Kenya, defrauding more than 100,000 victims of over $562 million.

“Several high-value crypto wallets linked to the syndicate are now under forensic review, with investigators tracing transactions suspected to have funded terrorism-related activities,” INTERPOL said in a statement.

The agency added that a Red Notice has been issued for one of the alleged masterminds accused of scamming investors out of roughly $5 million through a complex web of crypto wallets and exchanges designed to obscure money trails.

Across the participating nations, more than 15,000 individuals and entities were screened, while authorities seized assets worth about $600,000.

INTERPOL said asset recovery efforts are ongoing as investigators continue to track funds linked to terrorism financing and large-scale financial fraud.