October 14th 2026, 4:54 PM
Coinbase Cracks Down on West African Scam Networks
Key Summary
Coinbase joins forces with law enforcement to combat West African scam networks, blocking $415,000 in losses for over 65 victims and rescuing 117 human trafficking victims in Ghana. The operation highlights the growing threat of crypto-enabled investment fraud, with losses reaching $8.65 billion in 2025.
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Introduction
Coinbase has joined forces with law enforcement to combat West African scam networks, a move aimed at disrupting the growing threat of crypto-enabled investment fraud.Operation Details
The operation, led by the UK's National Crime Agency and the US Department of Justice's Scam Center Strike Force, targeted scam networks operating mainly out of Ghana and Nigeria.Coinbase's Contribution
Coinbase's Global Intelligence team provided real-time blockchain analysis, tracked illicit fund flows, and supported asset freezes, while also working to protect people being targeted.Results
The operation resulted in the removal of over 3.7 million fraudulent accounts and pages, 28 people arrested, and 117 human trafficking victims rescued in Ghana.The cooperation model used in the operation highlights the importance of public-private intelligence sharing in combating scam networks.
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Regulatory Enforcement
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A photo of a person being rescued from a scam network, with a background of Ghanaian landscape, shot on a 35mm lens with natural lighting, showcasing the operation's success in rescuing human trafficking victims.
#Bitcoin#US#Crypto#SEC#WestAfrica#ScamNetworks