Interpol Crypto Bust Nets $100M, 1,200 Arrests in Africa

Interpol’s Operation Serengeti 2.0 arrested over 1,200 cybercrime suspects, seizing nearly $100 million linked to crypto crimes in African countries like Angola and Zambia, targeting fraudulent schemes, illicit mining, and laundering networks.

This large-scale operation signifies coordinated global efforts to combat cryptocurrency-based crimes, potentially impacting regional crypto markets and regulatory approaches.

Interpol Headquarters Collaboration

Interpol Headquarters led the operation in collaboration with 18 African countries and the UK. National Law Enforcement agencies in Angola, Zambia, and Ghana were heavily involved. Private Sector Partners like TRM Labs provided key technical support.

The operation impacted numerous crypto networks and seized infrastructure, potentially straining local markets and affecting crypto adoption rates. On-chain data shows no immediate fluctuations, but further tracing from firms like Chainalysis may reveal more.

The arrest of 60 Chinese nationals in Angola highlights international involvement in illegal mining operations. African financial markets may face scrutiny, influencing regulatory policies and foreign investor confidence.

Authorities in Angola dismantled 25 cryptocurrency mining centres, where 60 Chinese nationals were illegally validating blockchain transactions to generate cryptocurrency. The crackdown identified 45 illicit power stations which were confiscated, along with mining and IT equipment worth more than USD 37 million, now earmarked by the government to support power distribution in vulnerable areas.

Interpol Official Statement

Future financial implications could include an increased focus on regulatory frameworks, possibly leading to technological adaptations within the crypto industry in Africa. Long-term monitoring of blockchain activities is expected to improve enforcement efficacy.