Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
BTCLIVE
BTC price on Oct 18, 2026 at 2pm EDT
$81,100 or above2.08x<a href="https://link.<a href="https://xpertsstudio.com/bitcoin-network-fee-12-cents-per-withdrawal/” title=”Bitcoin network fee: 12 cents per withdrawal”>bitcoinfoundation.org/?subid4=prediction” rel=”nofollow noopener” target=”_blank”>48%
$82,300 or above2.44x41%
The $11 million is the number that travels. It is not money pulled from a scammer’s wallet. The Binance Coinbase West Africa scam sweep identified more than $11 million in funds for possible freezing, as the two exchanges joined a crackdown on scam networks while authorities in Ghana and Nigeria arrested 28 people. The networks under investigation are accused of running cryptocurrency investment fraud and other scams against people in the U.S., the U.K. and elsewhere.
That total — $11 million in crypto funds flagged by private-sector partners — is money marked as potentially freezable, not a confirmed recovery. Officials also reported cryptocurrency seizures, without disclosing their value or which assets were taken.
- Binance Coinbase West Africa scam sweep paired exchange intelligence with arrests in Ghana and Nigeria
- Exchanges helped trace funds, but the flagged total is not money recovered
- Victims and social platforms were also part of the response
- What investigators and exchange customers should watch next
Binance Coinbase West Africa scam sweep paired exchange intelligence with arrests in Ghana and Nigeria
The U.K.’s National Crime Agency hosted the joint operation, which put technology firms and law enforcement at the same table. The U.S. Department of Justice called it the first such joint operation focused on West Africa
Ghanaian authorities arrested 19 people in Sasaabi, near Accra, and seized 303 electronic devices. Nigerian authorities arrested nine more. The DOJ said the crackdown addressed scam networks that included cryptocurrency investment fraud; the arrests do not establish the guilt of those detained.
The operation also identified 117 trafficking victims in Ghana who were awaiting repatriation to Nigeria, according to the NCA. Participants separately gave law enforcement leads on more than 30 suspected scam centers.
Exchanges helped trace funds, but the flagged total is not money recovered
Coinbase helped investigators trace illicit funds, support asset freezes and develop intelligence, the company said. It also identified more than 65 active scam victims and prevented more than $415,000 in potential losses.
Binance took part alongside blockchain analytics firms Chainalysis, Elliptic and TRM Labs. TRM Labs said it exposed a large-scale peer-to-peer laundering network. Private-sector partners identified more than $11 million that could be frozen, but the reported figure refers to funds flagged for a possible freeze, not confirmed recoveries.
Authorities did not disclose the value or the assets involved in the cryptocurrency seizures. The amount actually seized or frozen remains unspecified.
Financial tracing and arrests were only part of the West Africa crypto scam crackdown. Meta said it removed more than 3.7 million Facebook and Instagram accounts, pages and groups, most of which appeared to target Americans and Britons through impersonation.
Those removals point to a social-media component in the alleged scam networks. The victim identifications show the operation also addressed trafficking. The NCA said the 117 people identified in Ghana were awaiting repatriation to Nigeria.
What investigators and exchange customers should watch next
For investigators, the immediate question is whether the leads on suspected scam centers turn into further enforcement action, and whether any of the flagged funds are frozen or recovered. The reported cryptocurrency seizures may receive more detail if authorities disclose their value or the assets involved.
Exchange users get a narrower lesson. The case shows how companies can assist investigations through tracing and intelligence work. It does not indicate that Binance or Coinbase customers’ funds were involved.
Binance and Coinbase joined a wider group that included analytics firms, law enforcement and Meta. Whether the sweep leads to additional arrests or asset freezes is the next concrete development to follow.
This article is for information only and is not financial advice.
Source: bitcoinfoundation.org