A Nigerian court has frozen around $38 million in cryptocurrency that was allegedly used to support protests in the country. Nigerian authorities said a total of $50 million in cryptocurrency donations were traced to protest against rising cost of living. The Federal High Court in Abuja, at the request of the Economic and Financial Crimes Commission (EFCC), ordered the freezing of four wallets.
The wallets are reportedly linked to organizers of the EndBadGovernance protests. Nigeria's national security adviser, Nuhu Ribadu, said the government had successfully frozen $38 million of them. Nigeria has cracked down on cryptocurrency trading in recent years, accusing it of exacerbating the devaluation of the country's currency, the naira.
Nigerian court freezes around $38 million in cryptocurrency backing protests
2024-08-16 12:31:50
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