David Williams
The Economic and Financial Crimes Commission (EFCC) has arraigned one Godslove Munachiso Obiwuru, 26, before the Federal High Court in Enugu over alleged cryptocurrency fraud.
He faces a two-count charge of money laundering under the Money Laundering (Prevention and Prohibition) Act, 2022.
Count one alleges that in 2022 he held 0.042 Ethereum (approx. US$50) in a Binance wallet, knowing that it was the proceeds of an unlawful act but Obiwuru pleaded not guilty.
The EFCC requested a trial date and asked that he be remanded while lawyer requested time to file a bail application.
The court adjourned to hear the bail application and ordered that Obiwuru remain in EFCC custody.
According to EFCC, Obiwuru was arrested on August 5, 2025, following a petition from the FBI alleging his involvement in a “cryptocurrency account takeover” scheme.
The petition claims that in November 2022, a U.S. citizen’s Coinbase wallet was compromised, resulting in theft of 90,410.126 Gold Retriever (GLDN) tokens, valued around US$307,394 at the time.
Part of the stolen funds were traced to a Binance account linked to Obiwuru, and investigations suggest he received cryptocurrency stolen from at least two victims.
Source: Sahara Reporters.
