Bitget has launched its institutional services in Nigeria, offering fintech companies a robust platform to build innovative solutions on top of Bitget’s suite of institutional-grade offerings.

Gracy Chen, CEO, Bitget, in a statement said, “Our goal is to empower Nigerian businesses to innovate and leverage blockchain for wealth creation opportunities, hence, the institutional services empower fintech leaders with tailored solutions, as the offerings designed to cater for the unique operational needs of institutional clients, enabling businesses to embed trading functionalities like spot and futures markets, wallet management, and more, directly into their platforms.

“The Key services include White-label Broker Services which enabled Fintech companies to deploy customized crypto exchanges using Bitget’s infrastructure while managing branding and users independently. There is also API Solutions that can make the Developers to integrate trading functionality via APIs for spot, margin, and derivatives markets, ensuring fast execution and seamless experiences for end users.”

Chen added, “The ND Broker Model provides clients with complete autonomy over user-facing platforms, offering exclusive front-end flexibility while relying on Bitget for back-end market liquidity. Clients are able to employ Protection Fund and Proof of Reserves of over $600million secured in the Bitget Protection Fund and real-time Proof of Reserves, which gives clients assurance of maximum transparency and security.”

Nigeria recorded 3,459 ransomware threat detections in 2024, placing it third on the continent behind Egypt and South Africa, according to INTERPOL’s newly released 2025 Africa Cyberthreat Assessment Report.

The findings highlight the growing scale and sophistication of cybercrime in Africa as the continent’s digital footprint expands rapidly.

The report, based on data from INTERPOL’s private sector partners, reveals a notable spike in monthly ransomware activity across Africa last year, with highly digitized economies bearing the brunt of the attacks.

Egypt topped the chart with 17,849 ransomware detections, followed by South Africa with 12,281. Kenya (3,030), Gambia (1,729), and Ghana (1,671) followed Nigeria in the top ten.

INTERPOL identified ransomware, online scams, business email compromise (BEC), and sextortion as Africa’s most dangerous cyber threats.

The report highlighted how the scale and methods of attack differ across regions depending on levels of cybersecurity awareness, infrastructure, and digital literacy.

Cybercrime has become increasingly prevalent, now accounting for more than 30 per cent of all reported crimes in West and East Africa, according to Nairametrics.

The economic impact has also been severe. Key sectors such as finance, telecommunications, government services, energy, and infrastructure have been affected by attacks that often result in business paralysis and large-scale financial losses.

One of the most prominent incidents cited in the report was the April 2024 breach at Nigerian fintech company Flutterwave, where hackers reportedly made away with about $7 million.

The report noted that “in many cases, ransom demands ranged from tens of thousands to millions of dollars, typically demanded in cryptocurrency,” leading to substantial recovery costs, prolonged operational downtimes, and lost revenue.

Across the continent, organizations have struggled to recover from the fallout of such attacks.

In Cameroon, electricity provider ENEO suffered disruptions to its power management systems, while in Kenya, the Urban Roads Authority (KURA) faced a significant data breach compromising infrastructure records.

The INTERPOL report emphasizes the urgent need for governments, businesses, and institutions in Africa to adopt proactive cybersecurity strategies to safeguard digital systems and critical infrastructure from increasingly complex threats.

In the context of World Social Media Day, celebrated on June 30, Kaspersky warns of fraudulent websites created to steal users’ personal data.

Kaspersky experts warn of a wave of scams using social engineering and phishing techniques on social media and messaging apps to steal credentials and distribute malware.

Taking advantage of the popularity of platforms such as WhatsApp, Facebook, Instagram, X, Telegram, and TikTok, cyber attackers are creating fake pages that mimic legitimate websites and promise everything from account verification to benefits like free followers or premium features. This situation is especially worrying considering the high level of digital exposure users face today.

Over the past year, Kaspersky has identified multiple fraudulent campaigns employing sophisticated tactics and widely recognised platforms to execute their attacks. These scams operate in a variety of ways, but they all have a common goal: to obtain users’ credentials or install malicious software on their devices. Below are examples of such schemes.

Fake verification pages: Users were led to websites mimicking WhatsApp and other app’s official interfaces. These fraudulent pages ask users for their phone number and the verification code received via SMS. With this information, cyber attackers could access accounts, take full control, and perform actions such as impersonating them, sending messages in the victim’s name, or accessing confidential information.

Promises of free followers: Fraudulent pages offered to boost users’ digital popularity on platforms like Instagram by supposedly giving away followers. However, to access the benefit, victims had to voluntarily enter their login credentials. This strategy allows cyber attackers to take control of accounts, use them to spread further scams, or even sell them on dark markets.

Fake shops on TikTok: This social network has also been the target of targeted attacks, especially through its TikTok Shop feature, which allows sellers to directly associate products with posted videos, making them easier to purchase. Taking advantage of this functionality, cybercriminals created fake sites that simulate being part of TikTok Shop, with the aim of stealing sellers’ credentials.

Fake security notifications: Cybercriminals sent alerts pretending to be from Facebook and similar platforms’ security teams, warning of suspicious activity on the user’s account.

Through these notifications, they directed victims to phishing forms requesting their credentials. Once entered, the attackers could take control of personal profiles or manage pages, using them for scams, spreading malicious content, or extortion.

These situations reflect the real risks associated with using social media: exposure of personal data, loss of control over accounts, dissemination of false information, and threats to privacy.

Despite the increase in these types of threats, users are not defenseless. With increased awareness, good cybersecurity practices, and the use of reliable protection tools, it is possible to significantly reduce the risk of falling victim to these scams.

“Social media and communication apps have become a part of our lives, but with their popularity comes cyber risks. With the rise of artificial intelligence-based tools, scams can be more believable and personalised than ever.

Therefore, it is key to maintain cybersecurity awareness, develop critical thinking, and use robust cybersecurity solutions,” comments Seifallah Jedidi, Head of Consumer Channel for META at Kaspersky.