Telecom
Crypto-trading Scam Demands Thousands of Dollars in Fake “Profit Tax” to Unlock Victims’ Accounts, Sophos Finds

Sophos, a global leader in next-generation cybersecurity, has released new insight into an international cryptocurrency trading scam called CryptoRom that targets iPhone and Android users through popular dating apps, such as Bumble and Tinder.
The new research, “CryptoRom Swindlers Continue to Target Vulnerable iPhone/Android Users,” is based on first hand stories and content shared with Sophos by victims of the scam who got in touch after seeing Sophos’ previous reports on CryptoRom.
In the new research, Sophos reports that when victims tried to withdraw their investments from one of the fake trading schemes, their accounts were frozen and were charged up to hundreds of thousands of dollars in fake “profit tax” to regain access. According to Sophos, the CryptoRom operation is increasingly well-organised and sophisticated and targets victims all over the world.
Escalating Costs
In one case shared with Sophos, a victim was charged $625,000 to regain access to the $1 million they’d invested in a fake crypto-trading scheme recommended by someone they’d met on an online dating platform. The dating “friend” then claimed to have invested some of their own money to bring their joint stake up to $4 million.

According to the scammers, their investment made a profit of $3.13 million, and they were liable for a 20% profit tax, or $625,000, if they wanted to access their account to withdraw funds. In fact, neither the co-investment nor the profits were real, and the online “friend” was part of the scam.
“The CryptoRom scam is romance-centered financial fraud that relies heavily on social engineering at almost every stage,” said Jagadeesh Chandraiah, senior threat researcher at Sophos.
“The scammers attract targets through fake profiles on legitimate dating sites and then then try to persuade the target to install and invest in a fake cryptocurrency trading app.
“The apps are usually installed as web clips and are designed to closely resemble legitimate, trusted apps.
“According to victims of this scam who contacted us after our earlier articles, the 20% ‘profit tax’ is only mentioned when they try to withdraw their funds or close the account. Victims who struggle to pay the tax are offered a loan. There are even fake websites that promise to help people recover their funds if they’ve been scammed.
“In short, whichever path the increasingly desperate victims go down to try to get their money back, the scammers are there waiting for them. People tell us they have lost a lifetime’s savings or their retirement funds to the scam.”
The Sophos research also found a few cases where the CryptoRom operators had approached targets directly via WhatsApp and SMS messages, probably using stolen information.
New Technical Features
Sophos’ research also details new technical aspects of the CryptoRom operation. For instance, according to Sophos, the fraudsters are misusing Apple’s TestFlight feature that allows for a limited group of people to install and trial a new iOS app and go through a less stringent Apple review process. During 2021, Sophos researchers observed CryptoRom misusing the iOS Super Signature and Apple’s Enterprise Program for the same purpose.
Sophos researchers also found that all the CryptoRom-related websites used by the fraudsters had very similar backend structure and content and that only the brand names, icons and URLs were different. Sophos believes this may enable the scammers to quickly change the websites they use for the scams when one of them is detected and shut down.

Staying Safe – An Industry Issue
“It is deeply worrying that people continue to fall for these criminal schemes, particularly since the use of foreign transactions and unregulated cryptocurrency markets mean that victims have no legal protection for the funds they invest,” said Chandraiah. “This is an industry wide issue that is not going away. We need a collective response that includes traceability of cryptocurrency transactions, warning users about these scams and quickly detecting and removing the fake profiles that enable this kind of fraud.”
For more information, please read the article “CryptoRom Swindlers Continue to Target Vulnerable iPhone/Android Users.”
Sophos has published previous research into CryptoRom and other crypto-trading and financial fraud. Sophos has also published reports on other cyberthreats facing consumers and home users, including “fleeceware” where users are severely overcharged for mobile application services.
Telecom
NCC, CBN Unveil Refund Framework for Failed Airtime, Data Transactions

Nigerian Communications Commission (NCC) and Central Bank of Nigeria (CBN) have finalized a consumer protection framework to swiftly resolve complaints from failed airtime and data purchases caused by network outages, system errors, or user mistakes.

NCC, CBN
Developed after months of consultations with Mobile Network Operators (MNOs), Value Added Service (VAS) providers, Deposit Money Banks (DMBs), and other stakeholders, the framework responds to surging reports of debits without service delivery and prolonged resolution delays.
It unites telecom and financial sectors by pinpointing root causes—like debits without service credits—and enforces a Service Level Agreement (SLA) defining roles for all parties in transactions and refunds.
Key provisions include refunds within 30 seconds for debited but undelivered airtime or data (extendable to 24 hours for pending cases), mandatory SMS notifications on transaction status, and remedies for errors such as recharges to ported numbers, wrong purchases, or misdirected transactions.
NCC Consumer Affairs Director, Mrs. Freda Bruce-Bennett, highlighted a new Central Monitoring Dashboard, co-hosted by NCC and CBN, for real-time tracking of failures, culprits, refunds, and SLA violations.
“Failed top-ups are among the top three consumer complaints. True to our mandate, we prioritized a rapid solution,” she stated.
Bruce-Bennett thanked stakeholders, especially CBN leadership, noting that MNOs and banks have already refunded over N10 billion pending formal approval.
Implementation begins March 1, 2026, following regulator approvals and technical integrations by MNOs, VAS providers, and DMBs.
Telecom
NASENI Launches Inter-Agency Innovation Competition for MDAs

National Agency for Science and Engineering Infrastructure (NASENI) has announced the launch of an Inter-Agency Innovation Competition and Awards to stimulate creativity and technological advancement among Ministries, Departments and Agencies (MDAs) of the Federal Government.

NASENI
In a statement issued on Wednesday in Abuja, NASENI said the initiative was designed to harness innovative ideas from public servants that can drive indigenous industrialization, job creation and national progress.
According to the agency, the competition will provide a platform for MDAs to propose solutions in critical sectors such as health, agriculture, education and infrastructure, leveraging science and technology to improve public service delivery and enhance the quality of life for Nigerians.
“The competition seeks to promote collaboration and creativity among MDAs while addressing pressing national challenges through innovation,” the statement said.
NASENI urged interested MDAs to submit their entries through its innovation portal at naseni.gov.ng/innovation.
The agency reiterated its statutory mission “to develop and maintain a dynamic infrastructure to drive Nigeria’s indigenous industrialization, job creation and national progress,” adding that the competition would further strengthen efforts to unlock the nation’s potential through science and technology.
Telecom
Mandatory Biometric Verification for Starlink Users in Nigeria Begins

Users of satellite internet service provider Starlink in Nigeria are being required to complete a biometric Know Your Customer (KYC) process as a precondition to continue enjoying their services, according to .biometricupdate.

According to local reports, more than 66,000 Starlink subscribers in the country had a December 31 ultimatum from the Nigerian Communications Commission (NCC) to complete the biometric verification or have their connection discontinued.
The process essentially entails linking a Starlkink account with the subscriber’s national digital ID.
The NCC, which is Nigeria’s telecoms industry regulator, is said to have first issued the directive in August last year, setting a three-month deadline which was to elapse on November 19, TechCabal reports.
The body however later extended it to December 31 after consultations with industry stakeholders. The internet account-NIN linkage, the NCC said, is to enhance identity verification and strengthen security within the country’s telecoms space.
Just a few days to the December 31 deadline, Starlink’s Nigeria office sent an email to its subscribers reminding them of the KYC requirement, and warned that all those who fail to comply would be disconnected.
And that once disconnected, reconnection would depend on network capacity in the concerned area.
The service provider said in its email that the process takes less than two minutes and users can complete it by logging in to their account via an app.
One user, quoted by TechCabal, said one needs to upload their selfie biometrics, provide their national identification number (NIN) and then give their consent for the account to be linked to their ID information.
Starlink’s internet service is present in about 155 countries with nine million users, as of 2025. Its growth in Nigeria is said to be rapid, making it the second largest internet service provider in the country, according to The Traffic.
Biometric identification for Starlink subscribers could become a continent-wide trend given that some countries have expressed reservations in opening up their internet space to the company over security concerns.
There’ve been fears that jihadists in countries like Mali and Nigeria may have exploited Starlink terminals to coordinate terror operations, and cybersecurity experts have also warned of risks related to weak regulation, digital sovereignty and data breaches.
The requirement for Starlink internet users to have their accounts linked with the NIN is similar to the SIM-NIN linkage policy which the Nigerian government battled to implement for many years, with many deadline extensions.
In October last year, the NCC, which is was at the forefront of the policy implementation, announced that all active SIM cards across all network providers had complied with the directive which was issued in 2020.
The idea, the federal government argued, was to strengthen security and curb criminality such as kidnappings which are aided and abetted by improperly identified mobile phone numbers.
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