In a joint operation in London, Coinbase, the United States Department of Justice, and British autho

Joint Operations: Combating Cryptocurrency Scams in West Africa

Coinbase recently participated in a four-day special operation in London, aiming to disrupt cryptocurrency-related scam networks in West Africa. This operation marks an important step towards coordination between American and British law enforcement agencies.

International Task Forces Focus on Cryptocurrency Frauds

The operation, codened “Joint Disruption Week,” took place from October 6th to 9th. It was organized by the UK National Crime Agency, in collaboration with the FBI’s Counterfraud Unit. Several international and African law enforcement agencies, along with the Tech Against Scams organization, also contributed to this effort. The goal was to curb the growing number of cryptocurrency-based fraud schemes.

Coinbase is a leading cryptocurrency exchange based in the United States, offering services for trading, storing, and analyzing digital assets. Its participation highlights the increasingly important role of private sector expertise in combating financial crimes in the cryptocurrency industry.

During the operation, Coinbase’s global intelligence team tracked illegal funds, helped freeze assets related to criminal networks, and provided real-time information to authorities. Investigators linked blockchain evidence to data from fake websites, messaging accounts, and scam websites, thereby identifying common patterns and understanding the complexities of these scams.

Coinbase’s leadership noted the success of anti-fraud efforts in Southeast Asia, emphasizing that “coordinated actions between industry stakeholders and law enforcement agencies are highly effective.” They also described the initiative taken in London as a form of “continuous pressure” against fraud.

This alliance targets various types of fraud schemes, such as false claims about cryptocurrency investment opportunities, as well as scams involving impersonation by police officers. Some online criminals even create fake arrest scenes through video calls, thereby manipulating victims into transferring money to them.

According to Coinbase, many fraudsters now use social media to identify their targets, build credibility through messaging platforms, and then use various financial channels to launder stolen funds.

Coinbase noticed that the focus of criminal activities is shifting from Southeast Asia to West Africa. It appears that increased law enforcement efforts in certain regions have forced fraud networks to reconfigure their operational locations.

Background information: The Technology Anti-Fraud Alliance

The Technology Anti-Fraud Alliance is an organization composed of technology companies, industry organizations, and advocacy groups. Its purpose is to coordinate information sharing and joint efforts against online fraud, with a particular focus on fraud related to cryptocurrencies.

Global losses from investment fraud are increasing

The incident in London occurred shortly after the announcement of an agreement between U.S. and British authorities in September this year. The agreement aims to strengthen cooperation in combating fraud related to cryptocurrencies. Under this agreement, law enforcement agencies commit to sharing evidence, coordinating investigations, and jointly determining prosecution strategies for overlapping cases.

The U.S. Department of Justice reported that in 2025, losses due to online investment scams in the United States reached $8.65 billion, a 89% increase from $4.57 billion in 2023.

As early as June this year, Coinbase seized over $3 million in cryptocurrencies associated with fraud groups in Southeast Asia. Tech giants like Meta and Microsoft also took significant actions: Meta banned more than 1.4 million accounts, pages, and groups, while Microsoft suspended approximately 20,000 fraudulent accounts related to such crimes.

In another operation in September, U.S. authorities seized over $52 million in cryptocurrencies related to the “new coin guarantee” network and its suppliers. These entities were accused of operating money laundering services and creating fake investment platforms.

The U.S. Treasury’s Financial Crime Enforcement Network (FinCEN) identified $12.7 billion in suspicious activities related to digital asset investment scams. Officials stated that these funds were mostly converted into stablecoins, primarily USDT.

However, FinCEN clarified that the total amount of $12.7 billion included both completed and unfinished transactions. It is possible that some reports may duplicate information across different institutions.

Continued investigation and follow-up steps are necessary.

Coinbase 确认，伦敦行动的调查仍在进行中，并表示将继续与“科技反诈骗联盟”及国际执法合作伙伴共同努力， wherever they appear next（无论诈骗网络出现在何处），阻止新兴的诈骗网络。

当局表示，面对针对全球新手和资深投资者的快速移动且具有全球性的加密货币欺诈方案，持续的跨境合作至关重要。