Headline

Crypto Losses Fall To $452m, Says Report

Published

3 years ago

April 11, 2023

Cryptocurrency losses resulting from hacks and scams fell by $452m in the first quarter of 2023, De.Fi, an antivirus and app provider firm, has disclosed.

In its latest report, titled ‘Report: $452m Lost in Crypto in Q1 2023. New Trends of Hacks and Scams’, the firm stated that this was a 65.23 per cent decline from the $1.3bn recorded in the corresponding period in the prior year.

The report stated that crypto losses mounted to a nine-figure amount in March, for the second in a row. It said $215m was lost in March alone.

The firm noted, “Out of the $452m lost in Q1, a total of $215m was lost in just the first 20 days of March, underscoring the rapid pace at which scammers have been operating in recent weeks.

“While these losses are staggering, they also mark a decrease as compared to the same period in 2022, wherein Q1 saw $1.3bn lost.”

It explained that the biggest losses in Q1 were due to flash loan issues, which had been on the rise in recent months, with over $200m lost through the channel.

The firm, which claimed to maintain the largest database of hacks, scams, and exploits in the crypto verse, stated that the Ethereum chain was where the highest losses were recorded in the quarter.

In terms of recovery, “$130m was recovered in Q1 this year, marking a recovery rate of 28.7 per cent.”

In the corresponding period of 2022, $520m, 40 per cent of funds, was recovered. Scammers leveraged new tokens to lure unsuspecting crypto investors in Q1.

The firm stated, “In terms of attack vectors, tokens proved to be the most popular targets this year so far — this is unsurprising given that tokens are easy to deploy, and prey on the fear of missing out experienced by many new crypto investors.

“This is especially true with the market comeback in recent days. In terms of amounts lost, though, lending and borrowing protocols took the prize, it was driven by a small number of high profile events — Euler Finance and BonqDAO.”

Investors on crypto platforms that lost the most include Euler ($196m), BonqDAO ($120m), CoinDeal ($45m), Monkey Drainer ($16.5m), and Platypus Finance ($8.5m).

De.Fi concluded by noting that the significant surge in financial losses in Q1 underscored the need for heightened risk management and vigilance when investing in the decentralised finance sector on the part of investors.

“It is crucial for investors to educate themselves on potential dangers and implement appropriate measures to protect their investments,” it added.

Crypto scams have been on a rise in recent times as the adoption of crypto continues to grow in many countries. Nigerians are one of the largest users of crypto and are not isolated from these scams.

According to a report by Finder.com, 27 per cent of Nigerian Internet users own cryptocurrency assets.

A recent report by Chainalysis disclosed that 24 per cent of tokens created in 2022 were scams. Most of these scams were created on a pump-and-dump principle, adding that the creators would hype and promote these tokens (crypto assets) to other investors, leading to a price increase as new investors buy.

This would allow the creators to sell their overvalued shares at a profit, eventually leading to a price crash, and leaving new investors stuck with low-value assets, the report stated.

According to Chainalysis, investors spent $4.6bn on this scam last year.

Headline

JAPA: Top Six Countries To Obtain Easiest Citizenship

Published

6 hours ago

December 30, 2025

Editor

As a Nigerian considering relocation plans, interest in countries with clear and less complicated citizenship pathways is a smart way to not just guarantee greener pastures, but also provide you with the opportunity to feel more at home in a foreign land. While some of the programmes are ancestry-based, others allow Nigerians with such a link to try other means.

Contents
1. Dominica
2. Ireland
3. Turkey
4. Portugal
5. Vanuatu
6. Italy
Though rules vary widely across borders, some nations stand out for offering citizenship through investment or family ties with fewer hurdles and faster processing timelines.

Below are the top six countries with the easiest citizenship:

1. Dominica
Dominica operates a citizenship-by-investment programme that allows applicants to qualify through a contribution to the government’s Economic Diversification Fund or by investing in approved real estate. Processing typically takes a few months. Citizens enjoy visa-free or visa-on-arrival access to over 140 countries, including the Schengen Zone. There is no residency requirement, and dual citizenship is permitted.

2. Ireland
Ireland provides a clear citizenship pathway for individuals with Irish ancestry. Those with an Irish-born parent qualify automatically, while people with an Irish-born grandparent can apply through the Foreign Births Register. An Irish passport grants full European Union rights, including freedom of movement across EU countries. Dual citizenship is allowed, and there is no language requirement for applicants applying by descent.

3. Turkey
Turkey offers a fast-track citizenship option through investment. Foreign nationals who purchase qualifying real estate valued at a minimum of $400,000 can obtain citizenship within a few months. The programme does not require residency or renunciation of an existing nationality. Turkish passport holders have visa-free or visa-on-arrival access to several countries, with ongoing efforts to expand travel agreements.

4. Portugal
Portugal’s Golden Visa programme provides a residency-to-citizenship route for foreign investors. After five years of legal residence and meeting programme conditions, applicants may apply for citizenship. Approved investment options include venture capital funds and other qualifying assets. Successful applicants gain an EU passport, access to the Schengen Area, and dual citizenship, subject to passing a basic Portuguese language test.

5. Vanuatu
Vanuatu runs one of the world’s fastest citizenship programmes. Through its Development Support Programme, eligible applicants can receive citizenship in as little as two months after making the required financial contribution. The country offers visa-free access to over 100 destinations and has no tax on global income or capital gains. Residency requirements are minimal.

6. Italy
Italy grants citizenship by descent to individuals with an Italian parent or grandparent, following a 2025 legal update that tightened eligibility rules. Applicants must provide official documents proving a direct family link to an Italian ancestor. Italian citizenship comes with full EU rights, wide visa-free travel, and the ability to pass citizenship to future generations. Dual nationality is allowed, and no language test is required for descent-based applications.
(Tribune)

Headline

Japa: 5 Affordable European Countries Nigerians Can Relocate To

Published

7 hours ago

December 30, 2025

Editor

As economic pressures continue to mount, many Nigerians are increasingly exploring relocation as a path toward stability, better opportunities, and an improved quality of life. However, traditional destinations such as the United Kingdom, Canada, and the United States are becoming more difficult to access due to rising living costs and stricter visa policies.

Contents
1. Slovakia
2. Latvia
3. Portugal
4. Hungary
5. Georgia

But beyond these popular options, several lesser-known European countries are emerging as affordable and welcoming alternatives. Offering low tuition fees, flexible visa policies, and a reasonable cost of living, these nations are becoming attractive relocation choices for Nigerians seeking balance and opportunity.

In this article, Tribune Online highlights five budget-friendly countries Nigerians can consider for relocation:

1. Slovakia
Located in Central Europe, Slovakia combines stability, safety, and simplicity; three factors often missing in high-pressure relocation destinations.

Though it may not feature prominently on social media relocation lists, Slovakia’s affordability and accessibility make it a hidden gem. Students enjoy low tuition fees, while residents benefit from proximity to major European cities like Vienna and Prague. For Nigerians seeking structure and affordability, Slovakia provides a peaceful yet practical alternative.

2. Latvia
The Baltic nation of Latvia is fast becoming a preferred destination for international students and skilled professionals. Known for its low living costs and straightforward residence procedures, Latvia offers a convenient entry point into the European Union.

Riga, its capital city, blends historic charm with modern infrastructure, providing an ideal environment for studying, working, or gradually transitioning to other parts of Europe.

3. Portugal
Situated on Europe’s western coast, Portugal is one of the continent’s most liveable and affordable countries. Known for its mild weather, safety, and reasonable living costs, Portugal offers a soft landing for Nigerians looking to relocate without excessive financial strain. The country’s friendly visa policies and welcoming atmosphere make it ideal for students, remote workers, and small business owners. Beyond its scenic beauty, Portugal provides what many Nigerians desire: peace of mind and an easier start abroad.

4. Hungary
Hungary has quietly become a top choice for international students, offering quality education at affordable tuition rates. Living costs are significantly lower than in Western Europe, and cities like Budapest, Szeged, and Debrecen provide vibrant yet budget-friendly environments.

For Nigerians looking to relocate through education, Hungary offers a realistic and sustainable path toward long-term settlement in Europe.

5. Georgia
For Nigerians seeking an easy transition abroad, Georgia presents one of the smoothest relocation routes. The country allows Nigerians to stay visa-free for up to one year, eliminating embassy interviews and lengthy paperwork.

Located between Europe and Asia, Georgia offers a blend of natural beauty and affordability. Rent, transport, and food costs remain moderate, making it an excellent base for digital nomads and young professionals.

As migration trends evolve, success now depends on flexibility and strategic planning. While the dream of relocating abroad remains strong, the path doesn’t always have to lead through the UK or Canada. For Nigerians ready to look beyond the familiar, Europe’s quieter corners still offer accessible and rewarding opportunities.

Headline

Insecurity: US Congressman Riley Moore Reveals Trump’s Mission In Nigeria

Published

1 day ago

December 29, 2025

Editor

US Congressman Riley Moore has dismissed insinuations that President Donald Trump is attempting to bring war to Nigeria.

Moore made the remark in a post on his verified X handle on Monday.

His comments followed a US military airstrike on a terrorist enclave in north-west Nigeria on Christmas Day, reportedly carried out on the directive of President Trump.

“President Trump is not trying to bring war to Nigeria, he’s bringing peace and security to Nigeria and to the thousands of Christians who face horrific violence and death.

“The strikes against ISIS on Christmas, in coordination with the Nigerian government, have given hope to the Christians in Nigeria,” he said.

Recall that the lawmaker had previously stated that President Trump is focused on ending the killing of Christians in Nigeria.

It will be recalled that Moore led a US delegation on a fact-finding mission into alleged Christian genocide in Nigeria some weeks ago.

During his brief stay in the country, Moore travelled to Benue State, where he interfaced with religious and traditional leaders, as well as internally displaced persons.