The Directorate of Criminal Investigations (DCI) has warned Kenyans against increasing number of scammers stealing from them using cryptocurrency scams.
In a statement on Wednesday, February 7, 2024, DCI revealed that they had received several complaints from Kenyans who have lost loads of cash through such scammers.
"The DCI has noticed with concern the increase in reports of loss of hard-earned money by Kenyans to scammers. Scores are being lured to join online cryptocurrency investment platforms and end up losing their investments to fraudsters," DCI stated.
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We are currently investigating several such cases where investors who fell for the scam are crying foul."
How cryptocurrency scams operate
Among the methods being used include promises to make quick cash without breaking their backs. The victims are lured towards "investing" their hard-earned cash, which they end up losing.
"In the modern-day hoodwink that has swept the Kenyan market, short messages (sms) that read “make money sitting at home” are being sent to random people, with a link to join the online investment platform. With promises of high margins of profit as returns on investment, unsuspecting victims venture into the schemes and before they realize it, they've lost huge sums of money to scammers," DCI added.
The DCI has advised Kenyans to verify the authenticity of any online investment platforms with the Capital Markets Authority (CMA) and the Communication Authority (CA) before investing their money.
