Kansas Attorney General Kris Kobach announced the recovery of an international crypto wallet and stated that the funds will be returned to a Kansas resident defrauded in a crypto scam. This followed a lawsuit against Bimbo Toyin Akinyemi, a Nigerian national accused of the fraud. The court ordered full restitution and penalties, enabling the Attorney General’s office to seize the digital assets.

Kansas Attorney General Recovers Stolen Cryptocurrency in Landmark Case

Kansas Attorney General (AG) Kris Kobach announced on Wednesday that “his office successfully recovered an international electronic wallet and will return money to a Kansas victim of a crypto investment scam.” This recovery is a significant achievement for Kansas, marking “one of the state’s first successful civil actions against an international internet scammer,” the announcement describes.

A Kansas resident lodged a consumer complaint with the Attorney General’s office, alleging that she had been promised a substantial return in exchange for investing in cryptocurrency. Upon investigation, it was discovered that Bimbo Toyin Akinyemi, a resident of Nigeria, had defrauded the victim of her cryptocurrency investment. In response, General Kobach’s Charities and Financial Scams unit initiated legal action against Akinyemi under the Kansas Consumer Protection Act.

After Akinyemi failed to respond to a lawsuit filed under the Kansas Consumer Protection Act, the district court mandated full restitution and imposed penalties.

The U.S. Department of Justice and the Federal Bureau of Investigation (FBI) assisted in the investigation. The announcement details:

The order allowed the AG’s office to seize Akinyemi’s digital wallet, which contained half of a bitcoin, valued at more than $28,900 and other digital currency valued at more than $4,000.

What do you think about the Kansas Attorney General’s successful recovery of stolen cryptocurrency in this landmark case? Let us know in the comments section below.