Binance and Coinbase Freeze $11 M in West African Scam Sweep
Current overview (not historical)
Binance and Coinbase, using on‑chain tracking tools, helped Israeli and Nigerian law‑enforcement agencies in West Africa block $11 million in suspicious funds and prevent an additional $415,000 in potential losses. The joint operation led to the arrest of 28 individuals and the seizure of 303 electronic devices. The collaboration targeted a growing network of online fraud in the region, with the exchanges’ blockchain monitoring systems identifying and flagging dubious transactions to enable rapid law‑enforcement action. Meta also contributed by removing 37,000 scam accounts on Facebook and Instagram and supplying over 30 fraud‑related leads, providing a social‑media layer of support for the multi‑agency effort.
Written with AI from the reporting · updated 10/18/2026
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- 1Unclassified fact stationOct 18, 20:30single sourcereport-time onlyrevised
Binance 与 Coinbase 参与西非诈骗扫荡，标记 1100 万美元
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- Occurred (fact side)：
- not recorded
- Published (valid side)：
- Oct 18, 20:00
- First seen (known side)：
- Oct 18, 20:30
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- CoinDeskRelated fact: single sourceFact occurrence time unverifiedSource report revisedBinance and Coinbase join West Africa scam sweep flagging $11 million in crypto
Report first recorded Oct 18, 20:30
A joint operation by U.S. authorities and West African nations led to 28 arrests and the identification of over $11 million in crypto funds flagged for freezing. Crypto exchanges Binance and Coinbase participated, with Coinbase tracing illicit funds and preventing over $415,000 in losses, while TRM Labs exposed a large-scale peer-to-peer laundering network. Meta removed 3.7 million fake social media accounts linked to the scams, and investigators identified 117 trafficking victims awaiting repatriation.
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