Nigerian Court Freezes $38M in Crypto Allegedly Linked to Anti-Government Protests

Authorities claim the funds were intended to support demonstrations against rising living costs, but discrepancies in wallet activity raise questions.

• The Federal High Court in Abuja ordered the freeze of four crypto wallets containing $38 million, allegedly linked to protests against inflation.
• An investigation revealed ongoing transactions in some of the frozen wallets, showing discrepancies with court documents.
• Nigerian authorities allege that crypto trading has contributed to the devaluation of the naira and rising inflation.
• Protesters have used cryptocurrency to maintain anonymity and circumvent government restrictions.
• The crackdown on crypto follows similar actions during the 2020 #ENDSARS protests against police brutality.

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