The lynchpin of Inksnation, one of Nigeria’s biggest crypto Ponzi Schemes, Omotade-Sparks Amos Sewanu, has been captured

According to Nigeria’s Economic and Financial Crime Commission (EFCC), one of Nigeria’s biggest crypto Ponzi schemes Inksnation, Omotade-Sparks Amos Sewanu was detained in Sokoto, a city located in the northwest part of the country.

Fleeing lynchpin of Nigerian crypto Ponzi scheme Inksnation captured

Inksnation is one of the largest Cryptocurrency Ponzi Scheme in Nigeria. In it, the head of Omotade-Sparks Amos Sewanu was arrested.

In a May 28 statement on Twitter, the EFCC said it would provide details of Sewanu’s arrest later.

A few months ago, the EFCC released a notice asking for the help of the Nigerian public in locating Sewanu. At the time of the announcement, the EFCC said it had placed Sewanu on the wanted list for a variety of crimes, including name dropping and fraud.

However, in addition to these allegations, the anti-graft agency also said that Sewanu is wanted for his involvement in the creation and distribution of Pinkcoin, a complex Ponzi packaged as a cryptocurrency. Sewanu’s Pinkcoin was flagged by the Nigerian Securities and Exchange Commission.

Meanwhile, Sewanu’s arrest now has the potential to trigger the downfall of a Ponzi scheme that many in the Nigerian crypto space label as a scam. However, despite many warnings as well as Sewanu’s arrest, few Sewanu supporters still defend his innovation.

However, the majority of users commended the EFCC for capturing Sewanu while some are asking the anti-graft body to go after other scammers that have similarly defrauded thousands of people. Meanwhile, at the time of writing, the EFCC had still not shared details of the capture.

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