The United States has charged six Africa-based individuals accused of defrauding hundreds of Americans through a cryptocurrency investment scam that used fake non-fungible token (NFT) platforms to steal victims’ money.
The charges were announced by US Attorney for the District of Columbia Jeanine Ferris Pirro, who said the case highlighted how transnational criminal networks were exploiting online relationships and digital currencies to target unsuspecting people.
According to the US Department of Justice, the suspects allegedly operated scam compounds in Madagascar from early 2025, with investigators believing the operations may have been moved from Cambodia following law enforcement action there.
Prosecutors allege the scheme relied on building personal relationships with victims before introducing them to fraudulent investment opportunities.
The suspects allegedly posed as attractive women on dating websites and social media platforms, approaching Americans and gradually gaining their trust.
Once relationships had developed, the victims were persuaded to connect their cryptocurrency wallets to websites advertising NFT investments.
After connecting their wallets, victims were encouraged to deposit more money into the platforms. Investigators allege that the funds were then siphoned off without the victims’ knowledge, leaving them with financial losses.
The Federal Bureau of Investigation identified approximately 74 cryptocurrency wallets linked to about 800 victims across the United States who reported losing money after interacting with the fraudulent platforms.
Investigators further allege that the stolen funds were transferred to cryptocurrency accounts associated with actors based in China, pointing to the cross-border nature of the suspected operation.
Among those charged is Chui Kok Wa, who is accused of leading the alleged NFT fraud scheme. He faces a charge of conspiracy to commit wire fraud.
Court documents reportedly show that investigators recovered employment contracts, work schedules and scripts from his phones. The materials allegedly outlined how employees were instructed to manipulate victims emotionally and persuade them to invest in the fraudulent platforms.
The documents also reportedly contained instructions describing the operation as an emotional scam designed to exploit victims’ feelings for financial gain.
Investigators further recovered records containing employees’ personal information, salaries, working hours and cryptocurrency wallet addresses. These materials could help authorities establish how the alleged operation was organised and how its participants handled the scheme.
The case highlights the risks associated with investment offers introduced through online friendships and romantic relationships, particularly when they involve cryptocurrency platforms that have not been independently verified.
