The Economic and Organised Crime Office (EOCO) has uncovered and dismantled a sophisticated cryptocurrency fraud scheme targeting both Ghanaians and foreign nationals, recovering more than US$15 million in digital assets.
Attorney-General and Minister for Justice, Dr Dominic Ayine, disclosed the development while addressing the government’s Accountability Series on Thursday, December 18, 2025.
Dr Ayine explained that investigations traced the fraudulent crypto wallets to OKX, an offshore cryptocurrency exchange based in the Seychelles. Internal probes by OKX confirmed EOCO’s findings, verifying that the accounts were used for fraudulent transactions.
According to the Attorney-General, over 1,000 transactions originated from a single computer IP address at a specific location, suggesting the actions of one individual rather than multiple users. Further checks, including Know Your Customer (KYC) verification, identified the wallet owner as a Chinese national residing and working in Ghana under a valid resident permit.
Dr Ayine added that the suspect was employed by the company allegedly used to defraud several Ghanaian and British citizens. EOCO acted swiftly to shut down the company and seize its operations to prevent further financial losses.
“In the course of the investigation, the company used to defraud Ghanaians was shut down, and its operations were seized. On November 19, 2025, ZODIAC successfully converted the cryptocurrency assets of the criminal enterprise and transferred the amount of USD 15,191,730 to the EOCO exhibit account,” he said.
