Coinbase has joined a four-day operation with U.S. and UK law enforcement to disrupt West African scam networks by tracing illicit funds, supporting asset freezes and sharing intelligence.
Summary
- The Oct. 6–9 London operation targeted West African scam networks and the services supporting them.
- Coinbase’s investigators traced financial activity and shared intelligence with law enforcement and industry partners.
- Targeted schemes included fake crypto investments, police impersonation, and staged arrests conducted over video calls.
- The operation involved the DOJ’s Scam Center Strike Force and the UK’s National Crime Agency.
Coinbase said in an Oct. 13 post that its Global Intelligence team participated in Joint Disruption Week in London alongside Tech Against Scams, the UK’s National Crime Agency, the U.S. Department of Justice’s Scam Center Strike Force and international law enforcement partners.
According to the exchange, participating teams targeted the accounts, digital infrastructure and payment systems used by criminal networks operating in West Africa. In its accompanying statement, the company also identified African law enforcement partners among the participants and said investigative work remained ongoing.
Coinbase traces funds behind West African scam networks
During the London operation, Coinbase said its investigators followed illicit financial activity, supported efforts to freeze assets connected to scam networks and passed information to law enforcement in real time.
The company described an investigative process that connected blockchain transfers with evidence from fake profiles, messaging accounts and websites. By combining financial records with information held by other services, the exchange said participating teams could identify connections between activities that might otherwise appear unrelated.
Among the schemes targeted, Coinbase identified fraudulent cryptocurrency investments, criminals pretending to be law enforcement officers, and fake video-call arrests used to pressure victims into sending money.
In the exchange’s account, scammers use social media to find potential victims, messaging services to develop trust, and financial services to move stolen funds. Technology and telecommunications companies joined financial firms and police during the operation, which the NCA hosted in partnership with the DOJ’s Strike Force, according to the post.
Coinbase Vice President Leah Bressack pointed to the company’s earlier work against Southeast Asian scam compounds:
“When we disrupted scam compounds in Southeast Asia earlier this year, we proved that coordinated action across industry and law enforcement works.”
Bressack described the effort as “sustained pressure,” while Coinbase said criminal networks were expanding into West Africa as authorities pursued their operations in Southeast Asia.
U.S. and UK agencies agree to pursue shared scam cases
Ahead of the London event, the DOJ announced on Sep. 3 that American and British authorities had signed an agreement covering joint investigations into cryptocurrency investment fraud and other online scams.
As crypto.news previously reported, the joint scam-center agreement involved the U.S. Attorney’s Office for the District of Columbia, the Crown Prosecution Service of England and Wales, and the NCA.
Under the arrangement, the DOJ said investigators would exchange information about organized crime groups, pursue common targets and decide which jurisdiction should prosecute cases when investigations overlap. The department had identified several cases of shared interest and announced plans for an October disruption event with private companies in London.
For American victims, the department’s figures showed reported losses from online investment fraud reaching $8.65 billion in 2025, up 89% from $4.57 billion in 2023. The DOJ attributed the figures to the FBI’s Internet Crime Complaint Center and cautioned that unreported cases could leave actual losses higher.
According to the department, the Strike Force’s remit covers cryptocurrency investment fraud, human trafficking and money laundering connected to scam centers.
Earlier operations targeted crypto wallets and online accounts
In an earlier operation covered on June 4, Coinbase said it had frozen over $3 million in cryptocurrency connected to Southeast Asian scam networks. The exchange reported sharing intelligence with the DOJ, Meta, Microsoft, Starlink and international police agencies.
During that effort, Meta said more than 1.4 million Facebook and Instagram accounts, pages and groups were disabled. Microsoft suspended about 20,000 fraudulent accounts, while Starlink terminated connections for thousands of kits linked to unlawful use, according to the companies.
By September, U.S. investigators were also pursuing businesses accused of supplying services to scam operators. In a Sep. 9 announcement, the DOJ said an operation against Xinbi Guarantee and its vendors had restrained over $52 million in cryptocurrency.
The department reported seizing two wallets containing approximately $12 million and seeking restraints against another 47 wallets. According to prosecutors, vendors advertised money laundering, fraudulent investment websites and recruitment services for Southeast Asian scam compounds.
On Sep. 7, a federal court in Washington authorized the seizure of Telegram channels hosting the marketplace, the DOJ said. Investigators reported tracing funds belonging to U.S. victims to vendors advertising laundering services.
FinCEN identifies $12.7 billion in suspicious scam activity
In separate U.S. coverage published Sep. 4, the Treasury Department’s Financial Crimes Enforcement Network flagged $12.7 billion in suspicious activity associated with digital asset investment scams.
FinCEN’s analysis covered 33,904 Bank Secrecy Act reports submitted by approximately 1,300 financial institutions between Sep. 8, 2023, and Dec. 31, 2025. According to the agency, the reported activity involved victims across all 50 states and several U.S. territories.
The agency cautioned that suspicious activity totals do not directly measure victim losses because filings can include attempted transfers, reporting errors, and transactions reported by multiple institutions.
Within the dataset, FinCEN said money services businesses, mostly digital asset firms, submitted 55% of reports and identified $5.5 billion in suspicious activity. Banks reported another $6.4 billion.
Although at least 22 digital assets appeared in the filings, blockchain analysis cited by FinCEN found that scam proceeds were typically converted into stablecoins, almost exclusively USDT, before moving through decentralized finance services or exchanges outside the United States.
FinCEN also reported cases in which victims financed transfers through retirement savings, home equity credit, second mortgages, and personal loans.