FBI cracks down on Lagos fraudster for stealing ₦460 million in crypto

The Federal Bureau of Investigation- FBI has arrested Ehiremen Aigbokhan, a Lagos-based fraudster, for allegedly stealing ₦460 million (approximately $250,300) in cryptocurrency donations intended for U.S. President Donald Trump’s 2025 inauguration. The announcement was made by Vanguard Newspapers on Friday, July 4, 2025, citing the FBI’s international operation.

The stolen funds were part of a record-breaking $251.4 million raised for Trump’s inauguration, underscoring the growing intersection of digital finance and political fundraising. Digital forensics traced the theft to a Binance account opened by Aigbokhan in October 2024, with IP address data linking the fraudulent activities to Lagos. Experts utilized blockchain analysis, a method increasingly effective in tracking cybercriminals, as noted in a 2023 Journal of Cybersecurity study on crypto-tracing efficacy.

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The case highlights Nigeria’s rising prominence in global cybercrime, with the United Nations Office on Drugs and Crime reporting a 92% surge in West African cyber fraud cases between 2020 and 2024. This incident challenges the perception that such crimes are limited to American or Eastern European networks, drawing attention to the region’s evolving role in digital financial crimes.

The FBI’s successful operation involved collaboration with Nigerian authorities, leveraging advanced forensic tools to identify and apprehend Aigbokhan. Further details on the investigation and potential extradition proceedings are pending, as the case continues to unfold.