Forex and crypto scams in Nigeria: the Telegram checklist

Ten checks before you send anyone money

1. Does it promise a fixed return? "10% a week" is a scheme, not trading.
2. Does anyone want your login or a code? No broker, exchange or helper ever needs your password, two-factor code or seed phrase.
3. Where does the money go? Only to a cashier inside your own account, in your own name. Never to a person's bank account or a wallet address sent in chat.
4. Can you find the company on a regulator's register? Search the legal name yourself, then compare the website listed there.
5. Did you type the address yourself? Clone sites copy logos and colours perfectly.
6. Is the app from the official store? Never install APK files shared in groups.
7. Is someone rushing you? "Only today", "last slot", "your profit expires" are pressure, not information.
8. Does withdrawing need a fee or a "tax"? Paying to unlock your own money is the classic last step of a scam.
9. Are screenshots the only proof? Profit screenshots and bank alerts are easy to fake.
10. Would you be fine losing it all? If not, do not send it.

The patterns we see most

The account manager

A friendly trader offers to grow your account for a share of profit. You either give your login or send money to "their" platform. Early small withdrawals build trust; the big one never comes.

Fake customer care

You search for "Bybit customer care number Nigeria" or post a complaint, and an "agent" messages you on WhatsApp or Telegram. They ask for a code "to verify" and empty the account.

The P2P fake alert

A buyer on a P2P order sends a screenshot of a transfer and pushes you to release USDT. Nothing arrived. Check your bank app yourself, every time: selling USDT safely.

Third-party money

The naira arrives from someone else's account. It may be stolen, and the victim's report can freeze your bank account. Release only when the payer's name matches the buyer's verified name.

The recovery agent

After a loss, someone offers to recover your money for a fee, sometimes posing as a lawyer or a government officer. This is very often the same group, or another one working the same victims.

If it already happened

1. Stop sending money, whatever they promise.
2. Tell your bank immediately if the money left your account; a fast report sometimes stops a transfer.
3. Change passwords and turn on two-factor login on your email, exchange and broker accounts.
4. Keep the evidence: receipts, chats, usernames, phone numbers and wallet addresses.
5. Report it to the SEC for investment schemes and to the police for fraud.

Choosing a real broker instead: how to check one in three steps.