LAGOS — Justice Alexander Owoeye of the Federal High Court in Ikoyi has ordered the final forfeiture of $222,729.86 in USDT (Tether), a digital asset recovered from Chinese nationals linked to cyber-terrorism and internet fraud.
The order, issued on Monday, July 21, 2025, follows an ex parte application filed by the Economic and Financial Crimes Commission (EFCC) on July 18, through its counsel, Zeenat Atiku.
The forfeited assets are part of the proceeds recovered from a syndicate of 792 suspects arrested during the EFCC’s “Eagle Flush Operation” on December 10, 2024, in Lagos. The syndicate is alleged to have engaged in large-scale cryptocurrency investment scams and romance fraud schemes.
The court’s ruling marks another milestone in the EFCC’s ongoing crackdown on transnational cybercrime.
