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.

[Onyeeze]

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.

Standard educational training can eliminate a scam to to the society, and if government provide employment opportunities for both people who are graduates and none graduates, scam will be eliminated, do you think people who is into scam doesn't know that what they are doing is wrong, they know that they are doing the wrong thing, it's due to no employment opportunity that make many youths to go into scam, if government gives a Standard educational system and also make provisions of jobs immediately people graduates, and they will be employed immediately, people will not know what is scam talk more to do it

[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.

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.

Nah the same thing me and you dey yarn, my gee. Life dey hard already for some people and you come add the fact say one person go just wake up and take advantage of the hard work and sweat of another person unto say that person dey desperate to double funds. E no make sense.
Government go only do the best them fit to curb this disease but the main task na for the individual hand e dey. These scammers dey mostly bank on hope say them go catch person, and  nothing else.

[Joeboy]

For the record Crypto scam isn't just limited to Nigeria alone.. If you do a research on it, you will see that it is also prevalent in other countries around the world...And also thses scam cannot be stopped or permanently eradicated, this is because for those guys this scam of a thing  is the only way they can eat and take care of their family, and so they resort to scamming as a full time job.. What guys can do is to be very careful in all their crypto dealing so as not to fall victims to this online scammers.. If it is in P2P then the best way to avoid scammers is to forget how enticing their price is and always go through reviews and comment of that particular vendor before placing trade (to either buy or sell) from him or her...

[OsaiEmma]

I once heard about p2p scam, is that even possible? I believe these scammers can do the unthinkable but I somewhat feel p2p scam will be a bit difficult to pull. Here is why:

P2p are often done through exchangers; these exchangers hold the coin serving as an escrow, after both parties agree that the transaction is successful, they allow the owner of the coin to release to the recipient.

With these process, I don't really see how they manage to pull p2p scam; unless they do use a different method for the p2p.

[Nathrixxx]

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?

I initially thought that you would only insist on seeing crypto scams being completely eradicated, for this aspect that concludes your contentthat you posted made it a perfect, well-done job because you made it clear that it is not possible, everyone should rather be able to watch out for anything that could lead to losing their assets to any scam-related offers.

Learning more about security measures in crypto is important at this age, it is not only about investing, but taking critical measures that will prevent us from making mistakes or going the wrong part, this is why learning is necessary because scam is everywhere and there is no limit to how people can go as long as they intended to perform an illicit act, but our knowledge about their various tactics was give us more shield against any attempt being made to scammers.

[Bryan jessy]

Eradicating crypto scam is impossible so far cryptocurrencies are in existence there will always be some persons out there scheming on different methods or target to rob crypto holders, most of this scammer are even crypto holders as well. Eradicating crypto scam is like eradicating every form of crime on earth, which no human can be able to handle, is not even possible for some persons to do without corruption in their daily life which is another path way for scam, in Nigeria there are some little issues that are supposed to be looked into like stopping corruption but it is impossible so eradicating crypto scam even temporarily is impossible.

[Agbamoni]

Give a warning to the public today. Tomorrow, you will hear of greedy people who got scammed. Was it on the weekend last week? I saw a video of traders destroying an office named NRC on TikTok. I heard this company came as an investment company. And people invested a lot of money with them. After MMM and so many other investment platforms have scammed people over the years, it didn't stop them from investing in NRC. I dont know if the name is correct, but I think most of us must have come across this news. Until greed and the urge to make quick money are dealt with, people falling for scams will not be eradicated.

[Plutomanian]

Eradicating crypto scam is impossible so far cryptocurrencies are in existence there will always be some persons out there scheming on different methods or target to rob crypto holders, most of this scammer are even crypto holders as well. Eradicating crypto scam is like eradicating every form of crime on earth, which no human can be able to handle, is not even possible for some persons to do without corruption in their daily life which is another path way for scam, in Nigeria there are some little issues that are supposed to be looked into like stopping corruption but it is impossible so eradicating crypto scam even temporarily is impossible.

I agree with your assessment, eradicating crypto scam is like eradicating every form of crime on earth, you and me know that's infeasible. Crypto scammers are mostly in to crypto and they do understand how the market works and functions, they are very busy with updating new techniques to lure their preys and getting the job done. Crypto scams will continue to explode and there's absolutely nobody can do about it, it's more important to ring out the techniques these scammers are using because you might never know if you can save the next man on board. I will keep saying it, crypto scams can be reduced to its bearest minimum but it can never be permanently eradicated, it more like saying no more corruption in Nigeria, you feel me?

[DiMarxist]

You do have a point and this is not only related to crypto currency. No matter how much enlightenment that will be created there will always be victims of scam because the truth is that scam will always happen and it's victims will be there. It all boils down to enlightenment no matter how much we create enlightenment there are bound to be people who will still get scammed. Scans can only be reduced when it comes to crypto currency but, to talk about total eradication is not something that is actually possible in the real sense.