Police Uncover ₦3.6 Billion Cryptocurrency Fraud
The Nigeria Police Force's National Cybercrime Centre (NPF-NCCC) has made significant strides in combating cryptocurrency-based crimes, uncovering over N3.6 billion in suspected criminal proceeds converted into Tether (USDT) stablecoins.
According to AIG Akaninyene Ezima, the assistant inspector-general of police in charge of the NPF-NCCC, the success was achieved through intelligence-led investigations, digital forensics, and collaboration with local and international law enforcement agencies.
The operation involved arresting Kelechi Sistus Ihekaire, the sole proprietor of Kestart Technology, over an alleged international cyber-enabled investment fraud and money laundering operation.
Ihekaire allegedly used his company to serve as a terminal off-ramp for proceeds linked to the syndicate, with terminal cash-out inflows and outflows totalling approximately ₦3.62 billion between October 30, 2025 and May 31, 2026.