The International Criminal Police Organisation (INTERPOL) has disclosed that financial investigations into an international investment fraud scheme in Nigeria uncovered the movement of more than $2.4 million in suspected criminal proceeds, much of which was allegedly channelled through cryptocurrency transactions.
The investigation was conducted as part of Operation Serengeti III, an Africa-wide cybercrime crackdown that resulted in 1,462 arrests across 21 countries between June 29 and August 31, 2026.
According to INTERPOL, the Nigerian investigation focused on an international investment fraud scheme promoted through messaging applications, leading to the arrest of a suspect.
Financial investigations revealed that more than $2.4 million in suspected criminal proceeds had moved through the scheme, with a substantial portion allegedly laundered through cryptocurrency transactions.
However, INTERPOL did not identify the suspect, disclose the messaging applications allegedly used to promote the scheme or provide details about the victims.
The organisation also did not specify the cryptocurrency platforms involved, the countries through which the funds were transferred or whether any portion of the suspected proceeds had been recovered.
The case was one of two Nigerian investigations highlighted by INTERPOL as part of Operation Serengeti III, which targeted cyber-enabled fraud, ransomware attacks, business email compromise, online scams and digital extortion.
In a separate investigation in Nigeria, authorities arrested a suspect allegedly linked to a large-scale phishing and business email compromise operation.
The operation reportedly harvested software credentials and accumulated approximately 2.1 million email addresses.
Investigators also recovered a luxury vehicle suspected to have been purchased with criminal proceeds linked to the separate case.
Across Africa, Operation Serengeti III resulted in the disruption of 10,909 malicious networks and the recovery of more than $105 million in illicit funds.
INTERPOL said authorities identified 65,929 victims targeted by cybercriminal networks, while financial investigations linked criminal activities to losses exceeding $385 million.
The operation involved law enforcement agencies from 21 countries: Angola, Benin, Cameroon, Congo, Côte d’Ivoire, the Democratic Republic of Congo, Eswatini, Gabon, The Gambia, Ghana, Kenya, Mozambique, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, the United States, Zambia and Zimbabwe.
Before the operation commenced, investigators from 20 African countries and the United States received actionable intelligence on suspicious internet domains, Internet Protocol (IP) addresses and command-and-control infrastructure associated with criminal activities.
INTERPOL said private-sector partners supported the operation by providing intelligence, technical analysis and operational expertise to help law enforcement agencies identify targets, map criminal networks and advance investigations.
The organisation’s Director of Cybercrime, Neal Jetton, said cybercriminal networks exploited technology to target victims across national borders.
“Cybercrime networks operate without regard for borders, exploiting technology to target victims on an unprecedented scale,” Jetton said.
He added that international cooperation remained an effective tool for disrupting criminal networks, recovering assets and protecting communities from digital harm.
Beyond the Nigerian cases, the operation uncovered other forms of cybercrime across the continent, including illegal cryptocurrency mining in Angola, fraudulent online investment and pension schemes in Uganda, a malicious mobile loan application scheme in Tanzania and a vehicle import fraud network operating through social media in Gabon.
INTERPOL said investigations connected to Operation Serengeti III remained active, with authorities continuing to trace suspected criminal proceeds, analyse seized digital evidence and identify additional suspects.