At this year’s DEF CON conference in Las Vegas, cybersecurity leader Remi Afon, founder of GoLegit Africa and first president of the Cyber Security Experts Association of Nigeria (CSEAN), shed light on the rise of a sophisticated digital underground economy in Africa. His presentation, titled “The African Cybercrime Economy: Inside the Playbooks of Digital Hustlers,” emphasized that cyber threats from the continent have grown far beyond the familiar “Nigerian prince” stereotype.
Afon argued that global attention has traditionally focused on cybercriminals in Eastern Europe and Asia, leaving Africa’s high-tech cybercrime ecosystem largely under the radar. Factors driving this growth include high unemployment, limited economic opportunities, and rapid adoption of mobile technologies.
Using real-world case studies, Afon illustrated the evolution of cybercrime on the continent. He highlighted a complex Business Email Compromise (BEC) targeting a South African multinational, where criminals impersonated a supplier using a fake website and payment portal, later laundering the stolen funds through cryptocurrency.
In Kenya, fraudsters exploit mobile payment systems such as M-Pesa, using SMS phishing—or “smishing”—to steal PINs and conduct SIM swaps to gain access to victims’ accounts. West African hackers have also carried out targeted BEC attacks against companies in the U.S. and Europe, using detailed intelligence on executives and financial processes to steal millions through fraudulent wire transfers.
Afon noted that modern African cybercriminals employ a wide array of tools, including open-source penetration testing kits, social engineering frameworks, dark web services, and cryptocurrency mixers to conceal and move stolen funds efficiently.
While highlighting these threats, Afon also offered solutions. Through GoLegit Africa, he is working to redirect African cyber talent toward legitimate opportunities. The organization focuses on skills development in coding, web development, and cyber defense, while providing coaching, rehabilitation, and job placement for individuals with prior records. Partnerships with governments, corporations, and NGOs aim to create a united front against cybercrime.
“By investing in education, opportunity creation, and collaboration, Africa can transform its digital hustlers into a powerful force for cybersecurity,” Afon said. He stressed the need to move beyond outdated stereotypes and recognize both the sophisticated cyber threats and the immense potential present in Africa’s digital landscape.
