$2.5M Crypto Scheme Busted: Nigerian suspect tracked to US custody

Nwadavid created fake identities to establish romantic relationships and trick victims, including a Massachusetts resident, into transferring money via cryptocurrency. His operations spanned from 2016 to 2019.

Facing severe charges, Nwadavid’s case highlights the risks of such scams amid economic difficulties, with CEO Jack Mallers suggesting Bitcoin’s value may rise due to fiat currency debasement.

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