INTERPOL, AFRIPOL Bust $562m Crypto Ponzi Scheme, Arrest 11 Suspects in Nigeria

Eleven suspects, including individuals alleged to have ties to extremist groups, have been arrested in Nigeria following a coordinated international crackdown on financial crimes led by INTERPOL and AFRIPOL.

The two-month operation, code-named "Operation Catalyst,"  was conducted between July and September 2025 and targeted money laundering and terrorism financing activities involving cryptocurrency across Africa.

INTERPOL said the Nigerian arrests were linked to a popular crypto-based Ponzi scheme that defrauded investors in 17 countries of more than $562 million. 

It added that the scheme, which operated under the guise of a legitimate trading platform, was later found to have connections to terrorism financing networks.

Across six African countries, including Nigeria, Kenya, and Angola, the operation led to 83 arrests, with over 160 persons of interest identified and about $260 million in illicit funds traced in both traditional and digital currencies.

"Several high-value cryptocurrency wallets tied to the operation are now under forensic investigation, with transactions suspected to have been channelled into terrorism-related activities," INTERPOL said in a statement.

A Red Notice has also been issued for one of the suspected masterminds, accused of defrauding victims of roughly $5 million through a network of crypto wallets and exchanges designed to conceal financial trails.

So far, about $600,000 has been seized, while investigations continue to trace and recover additional assets.

INTERPOL’s Secretary General, Valdecy Urquiza, described the operation as a major milestone in cross-border policing collaboration.

"Operation Catalyst marks the first time financial crime, cybercrime, and counter-terrorism units from several African countries have joined forces to target terrorism financing. By sharing intelligence and resources, we can more effectively disrupt the financial flows that sustain such activities," he said.

AFRIPOL’s Executive Director, Ambassador Jalel Chelba, also hailed the effort, noting that it demonstrated the impact of united action among African law enforcement agencies.

"When African security institutions work together, they can mount a decisive and coordinated response to complex and evolving security threats," he said.

The operation received cyber intelligence and data analysis support from private-sector partners, including Binance, Moody’s, and Uppsala Security.

Earlier in August, INTERPOL and its African partners conducted a separate operation, Serengeti 2.0, which led to the arrest of 1,209 suspected cybercriminals and the dismantling of more than 11,000 malicious online infrastructures. 

That operation recovered $97.4 million linked to online fraud targeting nearly 88,000 victims across 18 African countries and the United Kingdom (UK), the statement added.