The Kansas Attorney General’s Office successfully prevented a fraudulent scheme orchestrated by Nigerian national Bimbo Toyin Akinyemi, aimed at deceiving a Kansas resident out of cryptocurrency.

This information was disclosed in a statement titled, “State of Kansas, U.S., Thwarts Attempt by Nigerian Crypto Scammer to Defraud Resident, Attracting Over $50,000 in Civil Penalties.” BitKE, a platform recognized for its coverage of Bitcoin, cryptocurrency, and blockchain developments in Africa, shared the news on Monday through its X account #BitcoinKE.

According to the Attorney General’s Office, Akinyemi lured the victim with promises of substantial returns on cryptocurrency investments.

Court records indicate that on July 15, 2023, Akinyemi entered into an agreement with the unnamed victim, who was instructed to buy Bitcoin and transfer it to Akinyemi’s ‘investment wallet address,’ with anticipated returns ranging from $500 to $1,240.

Akinyemi took advantage of the victim’s limited knowledge of cryptocurrencies, misleading them by obscuring the traceability of the fund transfers and falsely asserting that depositing money into a digital wallet would ‘activate’ it as an investment account. After receiving the funds, Akinyemi redirected the money to his own account.

A fraudulent cheque for $1,000 was subsequently issued to the victim but was never cashed.

The Kansas Attorney General’s Office confirmed that the victim is entitled to a refund of their $250 investment, while Akinyemi faces $50,000 in civil penalties for five violations, along with $4,000 in investigation costs and all associated court expenses.

The Charities and Financial Scams Unit of the Attorney General’s Office has initiated legal action against Akinyemi under the Kansas Consumer Protection Act.

Authorities have also seized Akinyemi’s wallet, which reportedly held half a Bitcoin valued at over $28,900, in addition to other digital assets worth more than $4,000.

A local judge has rendered a default judgment against Akinyemi due to their failure to respond to the summons and petitions that were sent to their email.

Alongside the financial penalties imposed, Akinyemi is now barred from participating in consumer transactions within the state.

First Assistant Attorney General Nathanial Castillo remarked, "Cryptocurrency is a borderless asset that enables international scammers to target and defraud Kansans from the ease of their keyboards."

He added, "Scammers understand that they are more likely to evade capture if they persuade victims to send cryptocurrency.

It is crucial for Kansans to carefully evaluate anyone they encounter online before making any cryptocurrency payments." The investigations also involved the U.S. Department of Justice (DoJ) and the FBI.