Pidgin Corner
FG-EFCC don arrest 792 suspects wey dey do crypto scam

Naija Economic and Financial Crimes Commission (EFCC) don arrest 792 individuals in connection with alleged large-scale crypto romance scam.
Di arrests happen for December 10 for one building for Lagos, Naija one of di largest city, wey dem suspect to be major hub for fraud activities.
According to report, EFCC spokesperson wey provide updates for December 16 talk say all di suspects wey dem detain include 148 Chinese nationals and 40 Filipinos.
Di Scheme Enlist Naija Accomplices
Di spokesperson com dey reveal say di scheme’s masterminds don enlist Naija accomplices to take dey lure victims online, e dey primarily target pipo for di U.S., Canada, Mexico, and different European countries.
“Naija accomplices wey dem recruit by di foreign kingpins to prospect for di victims online through phishing, dey target mostly Americans, Canadians, Mexicans and plenty oda from European countries,” di EFCC spokesperson talk.
“Once di Naija pipo fit win di confidence of dia victims, di foreigners go take ova di actual task to take defraud di victims.”
Di operation reportedly dey rely on di tactics wey dey commonly associated with di “pig butchering” scams.
For dis method, scammers go create fake online pesin as to take dey build trust with him victims, often feigning romantic interest or him go dey offer fraudulent cryptocurrency investment opportunities.
Once trust don dey establish for di mata, victims go dey pressured to transfer monie.
Notably, similar operations dey for Myanmar wey employ up to 5,000 pipo, whereas di Lagos scheme dey relatively smaller.
Di workers dem typically dey recruit through job ads and dem receive wages far higher than di local averages.
For Naija, di recruiters dey reportedly dey offer up to $500 per month ten times di national minimum wage along with performance-based bonuses for successful scams.
Di EFCC talk say dem dey collabo with di international partners to determine if di Lagos operation dey linked to global organized crime syndicates.
Di crackdown don com amid di surge in “pig butchering” scams globally.
New Zealand’s FMA Warns of Rising Crypto Scam
Just recently, New Zealand’s Financial Markets Authority (FMA) don com issue warning about di increasing wave of crypto scams wey dey target social media pipo dem.
For Monday warning, di watchdog talk say di fraudsters dey operate primarily through YouTube channels and messaging platforms like WhatsApp and Telegram, wia dem dey lure unsuspecting users with di promise of lucrative investment opportunities.
Scammers dem go dey set up YouTube channels wey present themselves as trustworthy sources of cryptocurrency trading advice.
And di viewers go dey encouraged to join private messaging groups for WhatsApp or Telegram, wia di fraudsters go dey pose as experienced investment experts.
Once dem don dey inside dis groups, di victims dem go dey directed to fraudulent trading platforms designed to look like legitimate cryptocurrency exchanges.
Di scam dey follow calculated strategy
Initially, dem go dey di victims to go make small deposits, fostering sense of trust.
Dem go then com present fake profit statements to take encourage larger investments.
However, wen di users don make attempt to withdraw dia monie, dem go meet with demands for additional fees, and no money go ova return.
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