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Namibia High Court Revokes Bail for 8 Crypto Fraud and Trafficking Suspects, Confiscates $29,800

GateNews
Enforcement ActionsSecurity Incidents
BTC3.31%
According to Bitcoin.com, Namibia's high court in Windhoek revoked bail for 8 in-absentia defendants in a crypto fraud and human trafficking case, confiscating approximately $29,800. The suspects include 6 Chinese nationals, 1 from Vanuatu, and 1 from Singapore. Authorities have tracked 6 Chinese suspects to China and requested Interpol's assistance. The gang operated between December 2022 and October 2023 under shell company Raylon Investments, recruiting unemployed Namibians and forcing them to create fake social media accounts posing as Western women to lure international victims into romantic relationships. Once trust was established, victims were manipulated into transferring funds to cryptocurrency accounts controlled by the group. Investigators estimate the gang stole approximately $267,800 from global victims.
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