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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/18/2026

Binance, Coinbase Join $11M West Africa Scam Sweep Led by UK NCA

What happened: In a joint operation led by the UK National Crime Agency (NCA) from October 6–9, 2026, Binance, Coinbase, Chainalysis, Elliptic, TRM Labs, and Meta collaborated to flag $11 million in p

Binance, Coinbase Join $11M West Africa Scam Sweep Led by UK NCA

What happened: In a joint operation led by the UK National Crime Agency (NCA) from October 6–9, 2026, Binance, Coinbase, Chainalysis, Elliptic, TRM Labs, and Meta collaborated to flag $11 million in potentially illicit crypto funds linked to West African scam networks. Authorities arrested 28 individuals (19 in Ghana, 9 in Nigeria), seized 303 electronic devices, and identified 117 human trafficking victims. Meta removed more than 3.7 million Facebook and Instagram accounts, pages, and groups targeting Americans and Britons. Coinbase alone identified over 65 active scam victims and prevented $415,000 in losses.

Why it matters: This operation marks the first coordinated public-private crackdown on crypto-enabled scams in West Africa, reflecting a maturing approach to cross-border financial crime. The $11 million figure represents funds flagged for freezing, not confirmed recoveries, highlighting the gap between detection and asset recovery. The scale of digital takedowns and victim identification points to persistent vulnerabilities in both crypto and social media platforms.

Source: CoinDesk, TokenPost, Cryptopolitan