Authorities say the officers allegedly operated a criminal network involving extortion, abduction, and theft from victims’ bank and cryptocurrency accounts.
The Nigeria Police Force has dismissed five police inspectors over alleged involvement in kidnapping, armed robbery, extortion, and cryptocurrency-related theft in Rivers State. The officers were reportedly linked to a criminal operation that targeted victims in Port Harcourt and surrounding areas through illegal stop and search activities.
According to local reports, the dismissals followed internal disciplinary investigations after authorities uncovered what police described as a coordinated criminal syndicate involving serving officers. Investigators alleged that the officers routinely intercepted civilians, seized their mobile phones, and forced victims to disclose banking information, passwords, and crypto wallet access details before transferring funds from their accounts. A senior police official stated that the suspects allegedly abducted victims and transported them to isolated locations where they carried out forced transfers from both traditional bank accounts and cryptocurrency wallets.
In one reported case, authorities said the officers allegedly transferred ₦4.5 million from a victim’s OPay account alongside approximately $1,742 from the victim’s cryptocurrency wallet. Police authorities described the incident as a serious abuse of office and a violation of public trust. Prosecutors are expected to formally file charges against the dismissed officers.
The case comes amid rising concerns globally over crimes targeting cryptocurrency holders through coercion, kidnappings, and physical threats rather than traditional cyberattacks. Security analysts have increasingly warned about the rise of so-called “crypto wrench attacks,” where criminals force victims to surrender access to digital assets through intimidation or violence.
Nigeria has also continued facing wider concerns surrounding police misconduct and organized criminal activity within parts of the security system, issues that previously fueled nationwide #EndSARS protests against police abuses and unlawful extortion practices. The dismissal of the officers highlights growing attention on crypto-related criminal activity in Nigeria and the broader risks associated with digital asset ownership. Authorities continue to face pressure to strengthen accountability, improve public trust, and address both financial crimes and misconduct within law enforcement institutions.
