The United States Federal Bureau of Investigation (FBI) is on the trail of a Nigerian man, Ehiremen Aigbokhan, accused of pulling off a jaw-dropping cryptocurrency scam that siphoned more than ₦460 million from donors intending to support the inauguration of former President Donald Trump in January 2025.

According to newly filed court documents, Aigbokhan, operating from Lagos, allegedly ran a sophisticated Business Email Compromise (BEC) scheme. The ploy involved crafting fake email addresses that closely resembled official contacts on the Trump-Vance Inaugural Committee. Investigators said he cleverly swapped a lowercase “l” for an uppercase “I” to impersonate committee co-chair Steve Witkoff, tricking a donor into transferring a whopping 250,300 USDT.ETH (a cryptocurrency linked to the U.S. dollar) on December 26, 2024.

By the time the fraud was uncovered, the stolen crypto — then worth over ₦400 million — had already been dispersed across multiple digital wallets. However, quick action by the FBI and crypto firm Tether saw the suspicious accounts frozen on December 31, preventing further losses.

Forensic investigations pointed directly to Lagos. Records showed that the wallet receiving the funds was linked to a Binance account opened by Aigbokhan just two months earlier, with no transaction history until the scam’s proceeds poured in.

So far, U.S. authorities have seized over 40,000 USDT.ETH from Aigbokhan’s wallet and a related account, totaling more than ₦60 million. The U.S. Department of Justice is now pushing for permanent forfeiture of these assets, while also pursuing charges against Aigbokhan for money laundering and wire fraud.

Assistant U.S. Attorney Rick Blaylock Jr., who is handling the case, called it one of the most notable cybercrimes tied to a U.S. presidential event. Although the FBI hasn’t confirmed if extradition is underway, the matter highlights how international cybercriminals continue to exploit high-stakes political moments.

In light of this scam, officials are sounding fresh alarms about the need for tighter cybersecurity in political fundraising. Donors and organizations are being urged to double-check email addresses and verify payment instructions before moving large sums — a simple precaution that could stop fraudsters in their tracks.