West African Fraud Networks Face Joint Crackdown as Coinbase Teams Up with International Law Enforcement

Key Points

• A four-day collaborative enforcement action ran in London between Oct. 6 and 9, focusing on West African fraud operations.
• The National Crime Agency of the United Kingdom coordinated the initiative alongside the Department of Justice’s Scam Center Strike Force.
• Cryptocurrency exchange Coinbase provided blockchain analysis, helped freeze compromised assets, and delivered live intelligence to investigators.
• Fraud tactics under investigation included fraudulent investment platforms, law enforcement impersonation, and staged video-call detentions.
• U.S. Department of Justice data shows online investment fraud cost American victims $8.65 billion in 2025.

A major cryptocurrency exchange has participated in a coordinated international enforcement initiative designed to combat fraud networks based in West Africa. Coinbase disclosed its involvement in a statement released on Oct. 13.

The collaborative effort, designated Joint Disruption Week, spanned four days in the British capital from October 6 through October 9. Britain’s National Crime Agency served as host, working alongside the Department of Justice’s specialized Scam Center Strike Force.

Additional organizations involved in the operation included members of the Tech Against Scams coalition and law enforcement agencies from multiple nations. According to Coinbase, African police and investigative agencies also contributed to the effort.

Blockchain Analysis and Asset Recovery

The exchange’s Global Intelligence division monitored suspicious financial flows throughout the operational period. Team members also facilitated the freezing of digital assets connected to criminal enterprises and delivered actionable intelligence directly to police investigators.

The platform explained that its analysts connected blockchain transaction records with evidence gathered from fraudulent social media profiles, encrypted messaging channels, and deceptive websites. This multi-source approach enabled investigators to identify relationships between seemingly disconnected criminal activities.

The fraud schemes under investigation encompassed bogus cryptocurrency investment opportunities and criminals masquerading as law enforcement officers. Additional tactics included orchestrating fabricated arrests conducted via video conferencing platforms to coerce victims into transferring funds.

Coinbase noted that fraudsters typically utilize social networking sites for victim identification and encrypted messaging applications to establish credibility. Financial service platforms are then exploited to transfer illicit proceeds.

Leah Bressack, Vice President at Coinbase, referenced previous enforcement operations in Southeast Asia, stating that “coordinated action across industry and law enforcement works.” She characterized the London initiative as applying “sustained pressure.”

The company indicated that criminal organizations have been relocating operations to West Africa as authorities intensify enforcement actions in Southeast Asian territories.

Previous Enforcement Initiatives

The London collaboration came after a September 3 Department of Justice announcement regarding a bilateral agreement between American and British officials. The arrangement facilitates joint investigations into cryptocurrency investment fraud and related online criminal schemes.

The framework allows investigators to exchange intelligence, pursue shared targets, and determine jurisdictional responsibility for cases involving both nations. Department of Justice statistics indicate that reported American losses from online investment fraud totaled $8.65 billion in 2025, representing an 89% increase from the $4.57 billion recorded in 2023.

In June, Coinbase announced it had immobilized more than $3 million in cryptocurrency connected to Southeast Asian fraud operations. That coordinated action saw Meta disable over 1.4 million accounts, pages, and groups, while Microsoft terminated approximately 20,000 fraudulent user accounts.

On September 9, the Department of Justice revealed that an operation targeting Xinbi Guarantee and associated vendors had secured control over more than $52 million in cryptocurrency. Federal prosecutors alleged the vendors promoted money laundering services and fraudulent investment platforms operated from scam compounds.

The Financial Crimes Enforcement Network at the Treasury Department separately identified $12.7 billion in suspicious activity related to digital asset investment fraud. The agency observed that scam proceeds were typically converted into stablecoins, predominantly USDT.

FinCEN clarified that these figures do not represent direct victim loss measurements. Some reports capture attempted transactions or transfers flagged by multiple financial institutions.

Coinbase stated that investigative activities stemming from the London operation remain active. The company pledged continued collaboration with Tech Against Scams partners and law enforcement agencies to pursue these criminal networks regardless of their geographic location.