‘Bunker mode’ won’t protect your crypto, critics say
October 14, 2026Developer Who Cloned Photoshop With AI Just Did the Same to Microsoft Office
October 14, 2026
Key Takeaways:
- Coinbase participated in a four-day assault of scam networks in West Africa in London.
- Its Global Intelligence team tracked illicit crypto activity, aided asset freeze operations, and provided intelligence sharing with law enforcement.
- The impersonation scams included fake crypto investments and staged video-call arrests by the police.
Coinbase has joined a coordinated enforcement effort aimed at disrupting scam networks expanding into West Africa.
During an operation in London, Oct. 6 – 9, the exchange collaborated with the UK’s National Crime Agency, the U.S. Department of Justice’s Scam Center Strike Force, Tech Against Scams and other international partners.
Coinbase Traces Crypto Flows Behind Scam Networks
Coinbase’s Global Intelligence team was dedicated to tracking illegal funds related to scam operations. The company said investigators helped trace funds, supported asset freezes and could help ongoing criminal investigations for the company.
The work integrated blockchain transaction data with other elements of the digital ecosystem, such as fake social media profiles, messaging accounts, and fraudulent sites.
That can aid investigators connect activity that might appear disjoint when it shows on various platforms. The purpose was not just to shut off individual accounts, Coinbase said, but also to uncover the underlying systems that are being leveraged to mask the movement of stolen assets and run scams.
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Scammers Used Fake Investments and Staged Arrests
The operation was directed at various aspects of fraud. Coinbase identified fake cryptocurrency investment schemes, a virtual arrest via video call designed to flex the power cords, and criminals posing as law enforcement officers.
Often scams are executed over numerous services until any funds end up in a crypto wallet or exchange. The victim might first be contacted via social media, then switched to a private messaging service after which they are asked to pay using financial channels.
That’s why enterprise-level intelligence sharing is particularly valuable when the investigators are trying to uncover the entire scheme.
West Africa Emerges as a New Focus
Effort to crack down on scam compounds across Southeast Asia has compelled certain criminal organisations to expand their activities to other global areas such as West Africa, Coinbase said.
Every effort has been made to disrupt networks that could have built stronger infrastructure in London. Members focused on the accounts, communications and payment mechanisms that facilitate scam activity.
The work also signals another trend for tech vendors, financial institutions, telecom and security organizations all getting more involved with investigations, coordinated efforts.
Coinbase Keeps Pressure on Crypto Fraud Networks
Coinbase has previously tracked down scams in a similar fashion. The company has explained that its part in the latest campaign was ensuring that blockchain intelligence could be merged with data collected by third party organizations and would enable police to respond quicker.
Vice President Leah Bressack described the strategy as sustained pressure on criminal networks that move between regions and platforms.
Coinbase said it plans to continue working with Tech Against Scams and law enforcement partners to trace illicit funds, disrupt active schemes and support investigations against the groups operating them.
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