Crypto bust in Africa leads to 1,200 arrests including Chinese nationals: Interpol

A large-scale bust coordinated by Interpol led to the arrest of 1,209 alleged cybercriminals that had targeted nearly 88,000 victims, Interpol said on Friday.

The operation, dubbed Operation Serengeti 2.0, recovered $97.4 million and dismantled 11,432 "malicious infrastructures," according to a press release. One busted operation in Zambia, which lured victims into a crypto investment scheme, is believed to have stolen $300 million.

"Zambian authorities dismantled a large-scale online investment fraud scheme, identifying 65,000 victims ... the scammers lured victims into investing in cryptocurrency through extensive advertising campaigns promising high-yield returns," Interpol said.

Interpol added that in Angola investigators dismantled 25 crypto mining centers "where 60 Chinese nationals were illegally validating blockchain transactions to generate cryptocurrency." Mining and IT equipment worth over $37 million was also confiscated.

The operation, which spanned June through this month, brought together investigators from 18 African countries and the United Kingdom.

Crypto crime surge

Authorities around the globe continue do have their hands full when it comes to cracking down on illicit behavior involving crypto. In May, Hong Kong police targeted a cross-border money laundering syndicate responsible for laundering HK$118 million ($15 million USD) through banks and crypto exchange shops. Then, in July, the Department of Justice disclosed efforts to combat North Korean schemes in which operatives posed as U.S. citizens to work remotely for American companies and steal cryptocurrency and sensitive information.

Blockchain forensic firm Chainalysis said last month that crypto thieves had stolen $2.2  billion in digital assets during the first half of 2025, surpassing last year's full‑year tally and putting the industry on pace for as much as $4 billion in losses by December. The number of physical assaults — sometimes called wrench attacks — is also up. 

The surge is largely due to the $1.5 billion hack of the Bybit exchange in March. U.S. officials and onchain analysts have tied that theft to North Korean state actors.