FBI helps prepare Nigerian crypto crime investigators

Advertisements

The US government recently helped through the FBI to conduct training aimed at enhancing the capacities of Nigerian cryptocurrency investigators, the US Mission to Nigeria (USMN) said. Over 50 Nigerian investigators and prosecutors participated in the exercise.

In its August 25 tweet, the USMN revealed that the training exercise was conducted in collaboration with Addis & Abuja’s International Computer Hacking & IP Attorney Advisers (ICHIP). The mission also explained what investigators learned from the exercise.

“Trainers shared patterns and trends in the criminal use of cryptocurrency and described the different ways that criminal companies use cryptocurrencies,” the US Mission Nigeria explained in the tweet.

This collaboration between the FBI and Nigeria comes from the fact that Nigeria continues to grapple with the numerous incidents of crypto-related crimes. Although Nigeria has had success in combating some crypto fraud cases or arresting masterminds like Omotade-Sparks Amos Sewanu of Inksnation’s infamous crypto-Ponzi scheme. However, many cryptocurrency-related crimes in this country remained unsolved.

High number of crypto fraud cases

The high number of crypto fraud cases in Nigeria in the past has prompted bodies such as the Nigeria Securities and Exchange Commission to issue public warnings or advice discouraging crypto-related activities. However, despite these warnings or the restrictions imposed by the central bank, Nigerian interest and use of cryptocurrencies continues to grow.

After the training exercise, however, officials hope to turn the screws on criminals who have made Nigeria a safe haven for crypto fraudsters so far.

What are your thoughts on this story? Let us know what you think in the comments section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Whale Watching: A Deep Dive Into the Portfolios of the World’s Largest Ethereum Whales Bitcoin

Whale Watching: A Deep Dive Into the Portfolios of the World’s Largest Ethereum Whales

While there's a number of bitcoin whales that often get caught by blockchain parsers...

By wpadminsonic164
Iran to pilot ‘nationwide cryptocurrency’, think about blockchain expertise for inventory market Bitcoin

Iran to pilot ‘nationwide cryptocurrency’, think about blockchain expertise for inventory market

The Central Bank of Iran plans to launch the pilot phase of its digital...

By wpadminsonic164
Bitcoin’s Recreation Principle Has Countless Potentialities Bitcoin

Bitcoin’s Recreation Principle Has Countless Potentialities

Read "A Look At The Game Theory Of Bitcoin," the first part of this...

By wpadminsonic164
Digital Bitcoin Occasion Keyfest takes place in January Bitcoin

Digital Bitcoin Occasion Keyfest takes place in January

Casa, a Bitcoin security company, will host a virtual festival that will celebrate the...

By wpadminsonic164
Inventory Trade of Thailand to Launch Digital Asset Trade ‘Very Quickly’ Bitcoin

Inventory Trade of Thailand to Launch Digital Asset Trade ‘Very Quickly’

The Stock Exchange of Thailand is getting ready to launch a digital asset exchange....

By wpadminsonic164
Finance guru Dave Ramsey says crypto is “enjoyable”, stays right here and may be a part of portfolios Bitcoin

Finance guru Dave Ramsey says crypto is “enjoyable”, stays right here and may be a part of portfolios

Finance guru Dave Ramsey says crypto is "fun" and can be a small part...

By wpadminsonic164
Offchain Labs launches Arbitrum One Mainnet – startup raises $ 120 million Bitcoin

Offchain Labs launches Arbitrum One Mainnet – startup raises $ 120 million

On August 31, 2021, Offchain Labs announced the official launch of the Arbitrum One...

By wpadminsonic164
David Marcus Launches Bitcoin Payments Startup Lightspark Bitcoin

David Marcus Launches Bitcoin Payments Startup Lightspark

David Marcus, former cryptocurrency head at Meta, is launching Lightspark, another payments company that...

By wpadminsonic164

Latest Posts

The Seal Society: Cardano Blockchains Next Blue Chip NFT? – DigitalJournal Cardano

The Seal Society: Cardano Blockchains Next Blue Chip NFT? – DigitalJournal

The Seal Society CNFT seems to be emerging as one of the best CNFT...

By wpadminsonic164
CME Group Will Launch Micro-Sized BTC, ETH Choices Ethereum

CME Group Will Launch Micro-Sized BTC, ETH Choices

The CME Group will launch micro-sized BTC, ETH options later this month and we...

By wpadminsonic164
Tidying Up Cryptocurrency: The Energy Impacts of Blockchains Videos

Tidying Up Cryptocurrency: The Energy Impacts of Blockchains

The Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce will...

By wpadminsonic164
Whale Watching: A Deep Dive Into the Portfolios of the World’s Largest Ethereum Whales Bitcoin

Whale Watching: A Deep Dive Into the Portfolios of the World’s Largest Ethereum Whales

While there's a number of bitcoin whales that often get caught by blockchain parsers...

By wpadminsonic164
10000 causes to get your Rstronaut NFT – Cardano Feed Cardano

10000 causes to get your Rstronaut NFT – Cardano Feed

Hurry up because the subscription period for our first required staking pool is closing...

By wpadminsonic164
In the midst of crypto’s ability was, Encode Club mints new web3 designers – TechCrunch Polkadot

In the midst of crypto’s ability was, Encode Club mints new web3 designers – TechCrunch

Crypto-savvy developers are in short supply these days. Blockchain startups and protocols are fighting...

By wpadminsonic164
Cardano’s (ADA) Venture Catalyst Fund8 Voting Lastly Kicks Off: What Does This Imply?  – U.At the moment Cardano

Cardano’s (ADA) Venture Catalyst Fund8 Voting Lastly Kicks Off: What Does This Imply? – U.At the moment

Vladislav Sopov Cardano (ADA) experts and enthusiasts can now support the most valuable projects...

By wpadminsonic164
Elanco Animal Health Now the Most Expensive versus Dogecoin This Year – Nasdaq Dogecoin

Elanco Animal Health Now the Most Expensive versus Dogecoin This Year – Nasdaq

Here at CryptocurrenciesChannel.com, we find it interesting to track various ETF and stock prices...

By wpadminsonic164