Coinbase says its investigators joined U.S. and UK authorities in a London effort to disrupt scam networks operating in West Africa. The schemes included fake crypto investments and staged arrests over video calls. Coinbase said it shared intelligence and supported efforts to freeze assets, but no public figures show how much money was frozen or whether the operation led to arrests.
- Coinbase says the operation ran Oct. 6-9.
- Investigators focused on scam accounts, websites, messaging services and payment systems.
- The DOJ confirmed a U.S. and UK cooperation agreement and a planned London event, but did not independently report the operation’s results.
- The DOJ cited $8.65 billion in U.S. losses reported to the FBI from cryptocurrency and cyber-enabled investment fraud in 2025.
What Coinbase Says Happened in London
In a post dated Oct. 13, Coinbase said its Global Intelligence team took part in a four-day operation in London called Joint Disruption Week. The event ran Oct. 6-9 and involved the UK’s National Crime Agency (NCA), the U.S. Department of Justice’s Scam Center Strike Force, Tech Against Scams and international law enforcement partners. Coinbase also identified African law enforcement partners but did not name them.
Coinbase said investigators traced financial activity linked to scam networks, shared information with law enforcement in real time and supported efforts to freeze connected assets. They linked blockchain transfers with evidence from fake profiles, messaging accounts and websites, according to the company.
Coinbase said the schemes included fake cryptocurrency investments, criminals posing as law enforcement officers and staged arrests over video calls. In these calls, scammers impersonate authorities and pressure victims to send money. Coinbase described these tactics among the scams targeted by the operation, but public information does not show how many victims or cases involved each one.
The operation focused on accounts, websites, messaging services and payment systems used by networks operating in West Africa. Coinbase did not name the countries or networks involved, say how many accounts or services were targeted, or give a figure for assets frozen. It also did not report any arrests, charges or prosecutions directly tied to the London effort.
What the U.S. and UK Agreement Covers
On Sept. 3, 2026, the DOJ announced a U.S. and UK agreement to coordinate investigations into cryptocurrency investment fraud and other online scams. The agreement involved the U.S. Attorney’s Office for the District of Columbia, the Crown Prosecution Service of England and Wales, and the NCA.
The agreement provides for information exchange, coordinated work on shared targets and discussions about which jurisdiction should prosecute when cases overlap. The DOJ said the NCA planned to host an in-person disruption event in London in early October with private-sector partners.
The DOJ announcement confirms the cooperation framework and plans for a London event. Coinbase’s account gives the dates, describes its team’s participation and identifies the focus on West Africa. The DOJ release does not independently confirm those operational details or say what the event achieved.
The DOJ says the Scam Center Strike Force targets cryptocurrency investment fraud, cyber-enabled fraud, human trafficking and money laundering connected to scam centers. Its stated focus is Chinese organized-crime networks operating scam compounds, primarily in Southeast Asia. That is a separate geographic focus. Available information does not establish that the London operation targeted the same networks or that those networks moved into West Africa.
What the Loss Figures Measure
The DOJ cited FBI Internet Crime Complaint Center (IC3) figures showing that reported U.S. losses from cryptocurrency and cyber-enabled investment fraud reached $8.65 billion in 2025, up 89% from $4.57 billion in 2023. IC3 collects complaints about internet-enabled crime. The DOJ cautioned that reported losses likely fall short of the actual total because many victims do not report fraud.
The $8.65 billion figure covers this investment-fraud category, not all online fraud. It counts losses reported to IC3, not every victim’s losses.
What Blockchain Evidence Can and Cannot Show
Blockchain transactions can be publicly visible, but a wallet address does not automatically reveal who controls it. Investigators may need other evidence, such as account records, messages, websites or information from service providers, to connect a transaction to a person or suspected scam.
Coinbase said investigators combined blockchain transfers with evidence from online profiles and communications. The company did not explain the methods or evidentiary standards they used. Tracing a transfer can help an investigation, but it does not by itself prove who controlled a wallet or establish guilt.
Coinbase said it supported efforts to freeze assets. It did not say it froze funds itself or identify the legal authority behind any specific freeze. The company also did not say whether frozen assets were recovered for victims. These are separate steps, and Coinbase’s public account gives no figures for any of them.
Key Questions and Answers
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What was Joint Disruption Week intended to do?
Coinbase said the goal was to disrupt scam networks by tracing financial activity, sharing information with law enforcement and supporting efforts to freeze assets.
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What scams did Coinbase say were targeted?
Fake crypto investments, law-enforcement impersonation and staged arrests over video calls.
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Did the DOJ confirm Coinbase’s participation or the operation’s results?
No. The DOJ confirmed the U.S. and UK agreement and a planned London event. Coinbase provided details about its participation, the dates and the focus on West Africa.
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How much was frozen in London?
No amount has been disclosed. Coinbase said it supported asset-freezing efforts but did not give a total.
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What do the $8.65 billion in losses represent?
Reported U.S. losses from cryptocurrency and cyber-enabled investment fraud in 2025, according to IC3 figures cited by the DOJ. The DOJ said actual losses may be higher because some cases go unreported.
Cross-border cooperation can help investigators follow money and evidence across services and jurisdictions. Coinbase has described investigative activity in London, but measurable enforcement results have not been made public. Related Coinbase coverage includes its advanced trading overhaul and plans for tokenized stocks.
