crypto scams in Nigeria can be permanently eradicated?

[Plutomanian]

Omo no be today we start to know weytin them de call scams because we no be newbies for this market again and we've been here to see how it functions and how these fraudulent scammers do carry out their entire operation without been spotted by anybody. Do you know that it's just funny how they do get away with literally every scam they do carried out. Well I was once a victim of these scammers and I know how it hurts when you fall victim, some of us recovered but some I'm afraid not and they do suffer the losses till today. So so unlucky to see oneself been held down because of a slight mistakes.

P2P scams and ponzi schemes are very common in crypto and what are the ways we ought to be preventing them?
We entirely looking at P2P scams because it do happen daily and the vast numbers of traders and investors are crying out after been doped of their hard earn money. Loss is not good, absolutely what we all should preventing and doing everything possible not to fall into this dip mess. Falling victims of scams wouldn't make us any more happy because we're been scammed of our hard earn money, who will be happy that his or her money is been trickily taken from them? Absolutely nobody and I wouldn't even wish that for my enemies.

On the other hand, I don't think crypto scams can be permanently eradicated from the system but I do think it can be controlled only by enlighten the public what these scams is all about and their techniques. What about you, do you think crypto scams in the country can be permanently eradicated?

[Dogedegen]

What about you, do you think crypto scams in the country can be permanently eradicated?

No kind of scam in any country can be permanently eradicated, before asking such a question you can think about how would this be possible? Has any country gotten rid of scams entirely? I do not think there is even some example of that, usually even if some type of scam has gone away it is because it has involved into a new type of scam. The answer is definitely no.

P2P scams and ponzi schemes are very common in crypto and what are the ways we ought to be preventing them?
We entirely looking at P2P scams because it do happen daily and the vast numbers of traders and investors are crying out after been doped of their hard earn money. Loss is not good, absolutely what we all should preventing and doing everything possible not to fall into this dip mess. Falling victims of scams wouldn't make us any more happy because we're been scammed of our hard earn money, who will be happy that his or her money is been trickily taken from them? Absolutely nobody and I wouldn't even wish that for my enemies.

What do you mean with preventing the scams? Users or normal people should not be preventing any kind of scam, you should be avoiding them and minding your own business. You can't change the world, you probably can't even change your friends to make things even more difficult so what chance do you have of changing the world? From a personal point of view, avoiding P2P scams and ponzis is very easy. That is what you can do, actions that are limited to things that are completely in your control. I have never been scammed in P2P or ponzi, because with a few simple rules it is all avoided easily. Just do P2P with highly reputable accounts and you won't have an issue. For ponzis, anything that promises returns higher than 5% per year can be avoided. With those 2 simple rules, you will eliminate 99.9% of scam attempts on you.

[Sunshine1525]

Scam is something that can't be completely eradicated but can be reduced, we all know that people are scammed through ignorance and greed which makes it possible to completely eradicate it cause even though people are enlightened on the possible ways to avoid being scammed some would still fall for it through greed.

Lately, financial dealings have gone digital, making it easier for scammers to trap people and since cryptocurrency is digital it would be tough to completely stop it, well the authorities meant for crime and things related with scam are doing everything within their power to reduce scam but it would be too tough for them to reduce it to zero percent.

[Felicity_Tide]

do you think crypto scams in the country can be permanently eradicated?

The quoted text above should have been the actual title of the thread, because what you used sounds more like a statement rather than an actual question, and eradication is same as a complete elimination, so it's not like we can have a partial eradication or something. Well, I certainly agree with most of the things you said in the writeup. The process of eradication is never as easy as it sounds. It's just like saying you want to eradict crime in a society. We can't stop crypto scams, but we can create awareness by letting others know certain things that can make them less vulnerable.

A common problem I have observed among certain people is their level of unawareness. And if the majority of the unawareness can be reduced, then we're likely to see a reduction in scams. But as it stands, we're still where we are, and it's definitely going to get worse as time goes on.

[gracreavix]

Seems everyone here agrees that crypto scams can't be eradicated but can be reduced. I also agree with that. The only thing that can be done is to create awareness of how they carry out their scams and educate more and more people. It's not going to be easy, but it's a start. The intervention of the government in educating people will greatly improve awareness.

The only thing that the government has no hand in is human greed. That one eeh, Nigerians get am for body. No be lie.

[Hyphen(-)]

Your thread is long and a bit confusing, because you combined both crypto scam and Ponzi schemes, even though some of them can be related to crypto, but the most Ponzi schemes we experience in Nigeria is not related to crypto and NRC can be a reference and it can’t be completely eradicated because we are greedy.

On the other hand, I don't think crypto scams can be permanently eradicated from the system but I do think it can be controlled only by enlighten the public what these scams is all about and their techniques. What about you, do you think crypto scams in the country can be permanently eradicated?

No scam can be permanently eradicated because scammers are learning everyday, and we are also hoping to make quick money always, so our greed is always taken advantage of by scammers that is why we need to keep learning always and to also try to control our emotions because scammers will always make attempt.

[Majestic-milf]

 For me the best way for scams to dey eradicated nah to no indulge in am entirely. The more people no pay attention or fall for this people tricks, e go hard for them. Recently, I just hear say the NRC ponzi don crash, leaving with so many people money and I begin to ask myself why them no wan gree hear word. E dey bad say as the country don porous reach, such cheap promises still dey move people. Honestly I feel bad for those wey don lose funds oh but this kind things go continue to repeat itself since them no wan listen.

[Fiatless]

According to a research by Sumsub as reported in State of the Crypto Industry 2026, crypto scams in Africa reduced last year. It rose from 1.7% in 2023 to 3.6% in 2024, dropped to 2.6% in 2025, which is about a 28% drop. This decline was attributed to stronger know-your-customer (KYC) processes, mobile‑first verification and better transaction‑monitoring controls.



Based on this study, Nigeria has one of the lowest crypto scam rates in Africa. This has been connected to market maturity, strict identity verification and stronger fraud prevention.

So from these findings, it is obvious that strict regulation and KYC procedures could reduce crypto crimes. I am adding the promotion of crypto education. Nigerians are getting more enlightened about these crypto scams, so it is becoming difficult to scam them.

[Charles-Tim]

For me the best way for scams to dey eradicated nah to no indulge in am entirely. The more people no pay attention or fall for this people tricks, e go hard for them.

Scam can not be eradicated.

The government want to reduce it, but scam is always growing. Only what can be done is left to individual to know how to avoid the scammers or being scammed.

People today have scam mind than before, just avoiding them is the best.

You will see young people that will be scammed because they are new and ignorant about the scam, and you will see old people get scammed because they are ignorant about it.

[Ribust]

For me the best way for scams to dey eradicated nah to no indulge in am entirely. The more people no pay attention or fall for this people tricks, e go hard for them. Recently, I just hear say the NRC ponzi don crash, leaving with so many people money and I begin to ask myself why them no wan gree hear word. E dey bad say as the country don porous reach, such cheap promises still dey move people. Honestly I feel bad for those wey don lose funds oh but this kind things go continue to repeat itself since them no wan listen.

I completely agree with you. The reason behind the continued success of these scammers lies in the fact that there are just too many people who are ready to get carried away with the promise of easy money. Whenever a particular Ponzi scheme fails, another one emerges with a new name and similar principles of functioning. In addition, financial problems force people to make bold moves and try to change their fate overnight. Therefore, this highlights the importance of proper education and awareness. Always remember – if it looks too good to be true, it definitely is.

[SatoPrincess]

You can’t completely eliminate scams through education because the truth is this in most cases victims of scams are educated and can do their due diligence but their greed is the reason they go ahead and “invest” in these hyip projects.