Interpol reported a massive crypto fraud in Zambia that exploited 65,000 victims through a sophisticated app infrastructure. The criminals used targeted ads to acquire users, then funneled them through a series of applications, mirroring the funnel of a real SaaS company but built on fraud. Summary Zambian authorities dismantled a $300 million crypto fraud targeting 65,000 victims through a complex app ecosystem. Operation Serengeti 2.0, coordinated by Interpol, led to 15 arrests in Zambia and the seizure of critical digital evidence. Angola simultaneously saw 25 illegal crypto mining centers and 45 illicit power stations confiscated, with equipment worth $37 million. On August 22, Interpol unveiled the details of a sweeping, multi-national takedown dubbed Operation Serengeti 2.0, which included Zambian authorities arresting 15 individuals connected to a sophisticated modern crypto investment scheme. The operation exposed a criminal tech stack that leveraged extensive online advertising to lure victims with promises of high-yield returns, before guiding them through a meticulously designed series of proprietary applications that gave the entire operation a veneer of legitimacy. A coordinated strike on digital crime’s infrastructure The scale of the Zambian operation is staggering in its precision and impact. Authorities confirmed the scam siphoned an estimated $300 million from its 65,000 victims, a figure that lays bare the devastating efficiency of the app-based model. In their crackdown, Zambian officials seized the critical digital fingerprints of the operation: key evidence including control domains, mobile numbers, and the bank accounts used to funnel the illicit gains. Investigations are now focused on tracing the international networks that supported the scheme. Simultaneously, Angola saw a crackdown targeting illicit cryptocurrency mining operations. There, authorities targeted the physical infrastructure of digital asset mining, uncovering 25 illegal centers operated by 60 Chinese nationals. The operation went beyond seizing mining rigs; it struck at the power source, identifying and confiscating 45 illicit power stations that were diverting national electricity. The total value of the confiscated mining and IT equipment exceeded $37 million, according to Interpol. Notably, the Angolan government has stated this hardware will be repurposed to support power distribution in vulnerable communities, turning the tools of crime into public utility. A continental effort against cybercrime Overall, Operation Serengeti 2.0 led to the recovery of $97.4 million and the dismantling of 11,432 malicious infrastructures, a clear testament to its scope. Ahead of the operation, Interpol said it facilitated the sharing of intelligence, including suspicious IP addresses, domains, and command-and-control servers, with investigators from 18 African nations and the United Kingdom. The participating countries included Angola, Benin, Cameroon, Chad, Côte D’Ivoire, Democratic Republic of Congo, Gabon, Ghana, Kenya, Mauritius, Nigeria, Rwanda, Senegal, South Africa, Seychelles, Tanzania, Zambia, and Zimbabwe.
