FBI arrests 9 in Nigeria over $11M cybercrime ring as global losses hit $16.6B
The FBI announced nine arrests in Nigeria on Sunday as part of "Operation Blackout," an international crackdown netting 28 suspects across Africa and 350+ seized devices. FBI Director Kash Patel said the operation targeted networks allegedly stealing billions from Americans, with 53 devices seized locally and $11 million in potentially freezable funds identified across multiple countries. Nigerian law enforcement and UK partners collaborated on the arrests.
The move coincides with the FBI's 2025 Internet Crime Report (released 2026), which logged complaints from 200+ countries and $16.6 billion in losses—a 33% jump from 2023. Nigeria recorded 1,219 complainants. Investment scams alone accounted for $5.8 billion, over half of all reported cryptocurrency losses. Locally, the CBEX platform collapse wiped out over ₦2.4 billion in investor funds, exposing regulatory gaps in digital asset oversight.
Cross-border enforcement is tightening. The FBI insists criminals targeting Americans from overseas will face justice regardless of location. Meanwhile, Nigerian investors face rising risks from unregulated platforms promising outsized returns.
With foreign agencies operating locally and domestic platforms failing, how will you verify any investment platform before committing your money?