• About
  • Advertise
  • Careers
  • Contact Us
Wednesday, July 9, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Digital Assets

EFCC, Toronto Police Recover $225,000 in $355,000 Cryptocurrency Fraud Case

by Joan Aimuengheuwa
December 10, 2024
in Digital Assets
0
EFCC, Toronto Police Recover $225,000 in $355,000 Cryptocurrency Fraud Case
Cybersecurity

Cybersecurity

UBA
Advertisements

A Toronto resident defrauded of over $355,000 in cryptocurrency has received partial restitution of $225,000, thanks to a cross-border partnership between the Toronto Police Service and Nigeria’s Economic and Financial Crimes Commission (EFCC). 

The incident dates back to mid-2021 when the victim began interacting with an individual identified as “Moshe Theodor McNigh” on Facebook.

The suspect allegedly gained the victim’s confidence and persuaded them to invest in cryptocurrency via a platform called Legacyfxtraders.online.

By the end of 2021, Nigerian authorities confirmed the scam, launching an investigation into the matter.

The recovery process involved multiple agencies, including Toronto Police’s Coordinated Cyber Centre (C3), the 51 Division Fraud Unit, and the Financial Crimes Asset Forfeiture Unit. 

These teams worked closely with the Ontario Provincial Police Anti-Rackets Branch, the Canadian Anti-Fraud Centre (CAFC), the Royal Canadian Mounted Police (RCMP), and Nigerian law enforcement.

In 2024, the EFCC arrested a Nigerian national, Omonkhoa Precious Afure, who was implicated in the fraud. The Nigerian courts subsequently declared the seized proceeds as assets belonging to the victim and ordered their return.

Romance and investment scams are increasing worldwide. According to the CAFC, victims in Canada reported losses exceeding $52.5 million to romance scams and $309 million to investment fraud in 2023 alone. However, authorities estimate that only a fraction of these crimes are reported.

Tools for Reporting Fraud

To tackle such schemes, authorities encourage victims to report incidents promptly. In Nigeria, individuals can use the EFCC’s Eagle Eye reporting application, which enables global reporting of cyber-enabled fraud. In Canada, victims can contact the CAFC or local police for assistance.

For those who suspect fraudulent activity, immediate reporting is important to enhance the effectiveness of investigations and hold perpetrators accountable.

Loading

Advertisements
MTN ADS

0Shares
Tags: CryptocurrencyCryptocurrency FraudEFCCMoshe Theodor McNighToronto Police
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
eTranzact CEO - CeBIH - Credo by eTranzact

CeBIH: eTranzact Boss Emphasises Power of Collaboration in Digital Payments

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

NowNow Joins Mastercard Start Path Global Program  

3 years ago
Adeola Ajayi, Savings Manager at AjoCard

Adeola Ajayi Speaks on How Fintechs can Grow on the Success of Mobile Money

4 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.