Interpol Busted 1,209 Cybercriminals For Crypto Scams in Africa

Interpol has busted 1,209 alleged cybercriminals for targeting almost 88,000 victims and cheating them out of their assets. Dubbed Operation Serengeti 2.0, the African-wide investigation led to the recovery of $97.4 million from these bad actors. In addition to this, they dismantled 11,432 “malicious infrastructures.” Operation Serengeti 2.0 in Africa Interpol organized Operation Serengeti 2.0, a coordinated large-scale bust that led to the arrest of 1,209 alleged cybercriminals. These actors launched a series of attacks that affected nearly 88,000 victims. A press release noted that through this operation, Interpol was able to recoup almost $100 million, while dismantling 11,432 infrastructures that these bad actors used to perpetrate their illicit acts. There was one such operation in Zambia that ended up siphoning $300 million from its victims. Apparently, it was disguised as a crypto investment scheme, promising investors unrealistic returns. It successfully lured 65,000 victims, but Zambian authorities eventually dismantled their operations. This is similar to the crime that led to the arrest of Raymondip Bedi and Patrick Mavanga in the UK. Bedi was sentenced to five years and four months, while Mavanga received a longer term of six years and six months for his role in the scheme. Angola Investigators Nab Bad Actors Meanwhile, investigators dismantled 25 crypto mining centers in Angola. It turned out that about 60 Chinese nationals were illegally validating blockchain transactions to generate cryptocurrency. Upon busting their operation, the investigator seized several mining and IT equipment worth over $37 million. It is worth noting that this operation spanned from June to August and involved investigators from at least 18 African countries and the United Kingdom. This underscores how effective the collaborative efforts of law enforcement agencies can be in nabbing bad actors. Scams and Hacks Remain on the Rise Globally, the incidents of scams and breaches have been on the increase in recent months. Australia’s ASIC stepped up its fight against online scams after it had dismantled 14,000 fraudulent websites since July 2023. Markedly, over 3,000 of these phony websites were linked to cryptocurrency. There is also the case of social engineering scams, which involve scammers gaining the trust of their victims. Once a relationship is established, the bad actor strikes and steals the asset of their unsuspecting victim. On Tuesday, one Bitcoiner fell victim to a sophisticated social engineering attack . He later lost about $91 million worth of Bitcoin in a single transaction. The post Interpol Busted 1,209 Cybercriminals For Crypto Scams in Africa appeared first on TheCoinrise.com .