Argentine authorities have arrested a Chinese national suspected of orchestrating a $50 million crypto fraud in Nigeria after he attempted to enter the country using false documents.
The suspect, identified only as DZ, was detained at Buenos Aires’ main airport after presenting a fake Paraguayan passport, with officials confirming he is wanted by Nigerian authorities on fraud and money laundering charges.
“DZ arrived from Paris with false documents,”
Said Argentine Security Minister Alejandra Monteoliva.
“Nigeria is asking for him, and we’re going to deport him.”
Police said DZ is accused of running a crypto investment scheme that promised high returns but prevented users from withdrawing funds, leaving investors with losses estimated at $49.4 million.
Authorities identified him as an Interpol-listed suspect, triggering immediate detention by airport security, federal police, and immigration officials before he could enter the country.
A federal court in Lomas de Zamora has begun extradition proceedings, with Argentina signalling it will cooperate with Nigeria to return the suspect.
The case adds to a growing number of global crypto fraud investigations, as regulators and law enforcement intensify efforts to crack down on scams and cross-border financial crimes.