**Interpol and Afripol Flag $260 Million in Illicit Crypto and Fiat Assets in Major Africa-Wide Operation**
Interpol and Afripol have identified $260 million in illicitly obtained cryptocurrency and fiat money as part of a joint crackdown on terrorist financing and cybercrime networks across Africa. The extensive effort, known as Operation Catalyst, led to the arrest of 83 individuals in multiple African countries. So far, authorities have seized $600,000 of the flagged illicit assets.
Of the 83 arrests made, 21 were linked to terrorism-related activities, 28 to fraud and money laundering offenses, 16 to online scams, and 19 to the “illicit use” of virtual assets. Operation Catalyst was conducted between July and September of this year, aiming to detect and halt financial flows connected to terrorism.
### Targeting Cryptocurrency Crime
Operation Catalyst heavily focused on crimes involving cryptocurrencies, leveraging data provided by private sector partners including Binance, Moody’s, and Uppsala Security. One notable case uncovered during the operation involved a crypto-based Ponzi scheme that masqueraded as a legitimate crypto exchange. This scheme defrauded over 100,000 victims across “at least” 17 countries — including Nigeria, Cameroon, and Kenya — of a staggering $562 million.
Interpol revealed that several high-value crypto wallets linked to this Ponzi scheme were “potentially connected” to terrorism financing. The investigation is ongoing, with 12 suspects identified and two arrested to date.
Binance’s Investigations team played a vital role by supplying information and resources to trace crypto asset flows tied to the scheme. A spokesperson from Binance told Decrypt, “We supported local law enforcement by providing operational intelligence and analysis, supported by our forensic tools and data-sharing, to help disrupt this major criminal operation, which was a coordinated effort with authorities across Africa.”
The spokesperson added that cooperation between crypto exchanges and law enforcement is becoming the norm. “Crypto exchanges are now one of the primary allies for law enforcement agencies in the international fight against crime,” they said. “Last year, we responded to nearly 65,000 law enforcement requests and served more than 14,800 registered officials globally. Our team also delivered 100 law enforcement training sessions.”
### Rising Crypto Crime in Africa
The growing collaboration underlines the increasing role of cryptocurrencies in African crime and terrorism financing — a trend confirmed by Interpol itself. According to an Interpol expert speaking to Decrypt, “As crypto adoption increases, so too do crypto-fueled financial crimes.”
The *INTERPOL 2025 Africa Cyberthreat Assessment Report* found that two-thirds of African member countries reported cyber-related offenses as accounting for a “medium to high” share of all crimes. In contrast, cybercrime comprises roughly 30% of all reported crimes in Western and Eastern Africa.
Nigeria is experiencing a significant surge in crypto-related fraud, with previous reports highlighting accusations from the country’s EFCC chair that corrupt politicians are using cryptocurrencies to hide illicit wealth.
The expert explained that the ease of access to cryptocurrency has enabled criminals to employ more sophisticated methods, including stablecoins and coin mixers, to obscure money flows in activities such as ransomware and extortion.
However, Interpol cautions that while crypto is “increasingly” used by cybercriminals, it is not necessarily the primary payment or settlement method in most cybercrimes. The Africa Cyberthreat Assessment Report points out that many cybercrime cases—particularly business email compromise scams—rely predominantly on traditional bank transfers or fiat currency systems. Additionally, some scams exploit gift card payment systems.
—
Operation Catalyst marks a significant step forward in combating illicit finance and cybercrime in Africa, highlighting the importance of international cooperation and the growing role of cryptocurrency exchanges as partners in law enforcement efforts.
https://decrypt.co/345822/interpol-arrests-83-in-landmark-african-operation-hitting-crypto-terrorist-financing-cybercrime
