Major Crypto Bust Leads to 1,200 Arrests in Africa

In a coordinated crackdown, Interpol announced the arrest of 1,209 alleged cybercriminals who targeted nearly 88,000 victims across Africa. This operation, named Operation Serengeti 2.0, recovered $97.4 million and dismantled over 11,400 "malicious infrastructures." One significant bust in Zambia involved a crypto investment scheme believed to have defrauded $300 million from 65,000 victims through deceptive advertising touting high returns. Additionally, in Angola, authorities shut down 25 illegal crypto mining centers, apprehending 60 Chinese nationals who were unlawfully validating blockchain transactions. More than $37 million in mining and IT equipment was confiscated during these efforts. Running from June to October, the operation involved collaboration from law enforcement agencies across 18 African nations and the United Kingdom. The rise in crypto crime continues to challenge authorities globally, with previous incidents including a cross-border money laundering syndicate in Hong Kong and North Korean operatives posing as U.S. citizens to steal cryptocurrency. The blockchain forensic firm Chainalysis reported that crypto thieves stole $2.2 billion in the first half of 2025 alone, marking a sharp rise in digital asset theft. The uptick in physical assaults, referred to as "wrench attacks," is also concerning, with much of the increase attributed to the $1.5 billion hack of the Bybit exchange in March, linked to North Korean state actors. Disclaimer: The Block is an independent media outlet that provides news, research, and data. As of November 2023, Foresight Ventures is a major investor in The Block. The Block operates independently to deliver timely and unbiased information about the crypto industry.