Nigerian EFCC Nabs FBI Suspect Obiwuru Over $307K Crypto Scam

The Economic and Financial Crimes Commission (EFCC) has charged 26-year-old Godslove Munachiso Obiwuru with involvement in a cryptocurrency scam. The suspect appeared before Justice M. T. Segun-Bello at the Federal High Court in Enugu, Nigeria. 

Obiwuru faces charges of taking control of a crypto account and money laundering. The case stems from an incident in 2022. A U.S. citizen’s Coinbase account was allegedly hacked, resulting in the theft of significant digital assets.

FBI Suspect Arraigned for Crypto Theft

Obiwuru was arrested on August 5, 2025, and he pleaded not guilty. The EFCC wants to proceed with the trial, while the defense is requesting bail. Obiwuru faces two main charges related to money laundering. The EFCC claims he kept 0.042 ETH, worth about $50, in a Binance account in 2022.

The investigation began with a petition from the FBI, accusing Obiwuru of being part of a scheme that took control of a crypto account in November 2022. It added that the scheme reportedly stole 90,410.126 Gold Retriever Tokens, worth about $307,394 at the time, from a U.S. citizen’s Coinbase account.

FBI investigations traced part of the stolen funds to a Binance account linked to Obiwuru. The EFCC’s Special Task Force in Enugu conducted preliminary investigations and found that Obiwuru allegedly received stolen cryptocurrency from two victims. He is currently in EFCC custody, awaiting a bail hearing.

Different Stroke to Different Folk

The economic and financial watchdog claims that the cryptocurrency is linked to illegal activities, which violates the Money Laundering Act of 2022. After he pleaded not guilty, EFCC lawyer A.Y. Abdullahi requested a trial date and asked that Obiwuru be held in a correctional facility. The defense, led by Abel Anih, requested a brief delay to file a bail application.

The case illustrates how the EFCC and other local watchdogs collaborate with international agencies, such as the FBI, to combat cybercrime. Cryptocurrency fraud is on the rise worldwide, and Nigeria is increasingly being identified as a hub for these activities. The ongoing investigation aims to determine Obiwuru’s possible involvement. 

Meanwhile, despite the involvement of some Nigerians in the less favorable aspects of the crypto space, it has also left room for commendation for others who have excelled. For example, Nigerian crypto trader Sunusi Danjuma Ali recently showed great honesty.

Ali returned over $135,000 (more than ₦200 million) that was accidentally added to his Bitunix exchange account. Ali chose not to take the money, which gives the crypto world something positive to celebrate.

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