Argentine police have arrested a Chinese man wanted by Nigerian authorities on suspicion of a $50 million cryptocurrency fraud scheme.

CoinFeed reported on April 21 that, according to DL News, Argentine police arrested a Chinese national (initials DZ) wanted by Nigeria at Ezeiza International Airport in Buenos Aires for a cryptocurrency scam. The suspect arrived in Argentina from Paris using a forged Paraguayan passport and was wanted by Interpol for money laundering and fraud. According to anonymous sources, DZ orchestrated a cryptocurrency scam in Nigeria, promising investors high returns, but victims subsequently found themselves unable to access the platform or withdraw funds. The scam involved approximately $49.4 million. The Argentine Minister of Security stated that the suspect would be deported and extradition proceedings to Nigeria would be initiated.