According to CoinMeta, and as announced by the U.S. Department of Justice, Binance and Coinbase participated in a joint anti-fraud operation targeting a fraud network in West Africa, assisting in identifying over $11 million in funds that were to be frozen. The operation was led by the UK National Crime Agency (NCA), and law enforcement authorities in Ghana and Nigeria arrested 28 individuals involved in criminal activities such as cryptocurrency investment fraud. Private sector partners identified the funds that could potentially be frozen, but the amount that has been recovered has not yet been confirmed. Coinbase stated that they assisted in tracking illegal funds, supported asset freezes, and provided intelligence to investigators, identifying more than 65 victims who were still suffering from fraud, helping to avoid potential losses of over $415,000. During the operation, Ghanaian police arrested 19 people and seized 303 electronic devices, while another 9 people were arrested in Nigeria. In addition, 117 victims of human trafficking in Ghana are awaiting repatriation to Nigeria, and the participants also provided law enforcement with information on over 30 suspected fraud centers. The U.S. Department of Justice noted that this is the first time such a joint operation has been conducted specifically targeting the West African region.