Nigerian Police Arrest Crypto Star BLord in Extortion Raid

BLord, one of the most recognizable faces in the Nigerian cyptocurrency space, has been arrested by the Nigeria Police as part of an lnet fraud and cyptocurrency fraud crusade.

Olumuyiwa Adejobi, force public relation officer, informed the populace about BLord’s arrest in a statement which he issued on the July 17th. This is concerning internet fraud, cryptocurrency fraud, terrorism funding, and breach of the CBN Act, as stated in the arrest posted on X.

The crackdown targeted Williams and his affiliated entities: As the literary; the organizations included are Blord Group, Blord Real Estate Ltd, Blord Jetpaye Limited, and Billpoint Technology.

Adejobi further emphasised on the commitment of police in conducting thorough investigation as a way of protecting the Nigeria cyberspace. This arrest is just another process of Nigeria’s fight against any activities linked to cryptocurrencies.

BLord, who is Hodlonaut’s chief competitor and an extravagant, well-connected individual involved in multiple cryptocurrencies, has irked some people. His companies have been quizzed on ostentatious growth and regulation to Nigeria’s tough legal milieu.

The new trend in the world today has led to the rise of new digital currencies, and this has been a centre of challenge for regulators and the police force everywhere in the world especially in Nigeria where the use of digital currencies has been on the increase despite the inadequacy of sound legal framework.

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