Cryptocurrency has become increasingly popular, but unfortunately, so has criminal activity involving digital assets.
The Growing Threat of Crypto Crime
While the value of crypto transactions received by illegal addresses has decreased, experts believe this figure will rise as more suspicious addresses are uncovered. This has led to a global crackdown on crypto crime, with the US taking a leading role.
US and Nigeria Join Forces
The US and Nigeria have formed a new partnership to combat crypto-related crimes. This collaboration aims to:
- Share information:
Both countries will work together to track and prosecute criminals involved in crypto crime. - Develop new strategies: The partnership will focus on identifying new ways to combat these crimes.
Benefits for Nigeria
The US’s support is expected to strengthen Nigeria’s efforts to fight crypto crime. This partnership comes at a time when Nigeria’s crypto industry is booming, despite the government’s cautious stance.
US Takes a Global Stand
The US is actively involved in combating crypto crime both domestically and internationally. The FBI reports that nearly 90% of investment fraud in 2023 is linked to crypto, resulting in billions of dollars in losses. The US government itself has been targeted by crypto criminals, with a recent hack resulting in the theft of millions of dollars in crypto.
This partnership with Nigeria demonstrates the US’s commitment to tackling crypto crime on a global scale.
