In 2025, a Nigerian entrepreneur looking to expand his export business lost $31,200 to a fraudulent import-export company claiming to provide bulk products at discounted rates for international shipping.
How the Scam Worked
The entrepreneur received an email with a convincing invoice from a company using:
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Official-looking letterheads
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Fake registration numbers
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Logos resembling reputable global export companies
The company promised bulk shipments of electronics and asked for an upfront payment of $31,200. Once the payment was made:
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The products never shipped
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Emails went unanswered
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Phone numbers were disconnected
He realized he had been scammed and reached out to Cyanosoft.com for help.
Cyanosoft.com’s Approach
Step 1 — Vendor Verification
Using Google, Bing, and ChatGPT, Cyanosoft investigated:
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Domain ownership
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Company registration databases
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Email spoofing indicators
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Previous scam reports
They discovered:
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The company was a shell entity
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Domain was registered less than 1 month prior
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Multiple other victims had reported similar losses
Step 2 — Payment Tracing
Cyanosoft traced the $31,200 through:
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Bank accounts
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Offshore wallets
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Payment processors
The team mapped transactions and connected them to a fraud ring operating across three countries.
Step 3 — Legal Pressure & Recovery
Cyanosoft filed:
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Fraud affidavits
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Bank chargeback requests
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Payment processor disputes
They contacted the hosting provider and verified the fraudulent registration, which helped freeze accounts and recover funds.
Step 4 — Recovery Outcome
Within 30 days, Cyanosoft successfully recovered:
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$20,000 via bank chargeback
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$8,500 via frozen payment processors
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$2,700 from international intervention
TOTAL RECOVERED: $31,200
The entrepreneur expressed relief:
“Cyanosoft restored not just my funds but my confidence in doing international trade.”
Step 5 — Prevention Guidance
Cyanosoft advised:
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Verify export companies using Google and official business registries
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Check domain age and hosting provider
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Ask ChatGPT to help analyze suspicious companies
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Never pay upfront without verified contracts
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Confirm shipping and insurance documents
Take Action Now — Don’t Let Scammers Win
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