A U.S. District Court in Tennessee has ordered the
forfeiture of $125,000 in cryptocurrency assets linked to three Nigerian
nationals—Martins Eromosele Iyere, Moses Olumide Sokale, and Olawumi Stephen
Adewale—following their involvement in a 2021 crypto scam targeting an American
victim.
Details of the Scam
The victim, Matthew McNulty from Tennessee, was
deceived into entering his cryptocurrency login credentials on a fraudulent
website hosted in Nigeria. After submitting his information, McNulty was
instructed to screenshot a generated QR code and send it to the scammers, who
then swiftly transferred his crypto assets out of his wallet.
FBI Agent Jordan Foreman, utilizing open-source
methods, traced the stolen funds through various cryptocurrency wallets. The
assets were converted into different types of cryptocurrencies and ultimately
ended up in Binance accounts associated with the three Nigerian individuals.
Legal Proceedings and Forfeiture
Despite efforts by U.S. authorities to contact Iyere,
Sokale, and Adewale regarding the seizure and forfeiture proceedings—including
emails and a 30-day public notice—no responses or claims were filed.
Consequently, Judge Travis McDonough issued a summary judgment in favor of the
U.S. government on April 30, 2025, leading to the official forfeiture of the
$125,000 in cryptocurrency assets.
Broader Implications
This case underscores the growing concern over
international cryptocurrency fraud and the challenges in tracing and recovering
stolen digital assets. It also highlights the importance of vigilance among
cryptocurrency users to avoid phishing scams and the necessity for
international cooperation in combating cybercrime.
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