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- Cryptocurrency adoption in Kenya has been rising, with the United Nations (UN) report rating the nation among the many prime 20 nations with the best crypto traders
- Kenyans proceed to spend money on cryptocurrencies, together with Bitcoin and Ethereum, however they lack the talents and data required
- This prompts fraudsters and scammers to give you tips to defraud their cash, and lots of have fallen sufferer to crypto buying and selling websites like BTCM
A Kenyan man has shared how he and different cryptocurrency traders misplaced their cash in a Bitcoin mining fraud scheme.
Supply: Twitter
The person stated he was launched to a web site known as BTCM, which promised hefty returns after investing in Bitcoin mining.
How BTCM crypto scheme defrauds Kenyans
In a message shared to a Twitter deal with by Moe, the person revealed that, along with other investors, they were introduced to a WhatsApp group.
The group mobilised a number of Bitcoin traders within the nation, accumulating cash from them.
“We have been put in a WhatsApp group however on Sunday, the group admin went offline. I didn’t obtain something from the cash I had invested, KSh 7,000,” decried the person.
The person shared a display screen seize exhibiting the M-Pesa transaction particulars, together with the excellent Fuliza quantity of KSh 60.03, after sending the KSh 7,000.
Social media reactions
The put up ignited debate amongst social media customers, some sharing their expertise with the web site that collapsed with their cash.
@duncan_kyalo17 stated;
“It appears Kenyans by no means be taught a lesson from these ponzi schemes.”
@Munene80 shared;
“I misplaced some quantity. I used to be launched by my buddy who misplaced KSh 440,000.”
@Tbag0005 requested;
“How are you going to make investments KSh 7,000 and count on KSh 8,000 and above..? These are scammers.”
@CryptoHubKE famous;
“The previous, previous Crypto mining script… Both Kenyans do not be taught or are simply grasping… Need one thing for nothing!”
What it’s best to do earlier than investing in crypto
Adoption of cryptocurrency is gaining momentum throughout the world and Kenya is main the best way within the African market.
Though crypto isn’t regulated in Kenya, the nation is among the many prime 20 world economies with the best quantity of people that personal cryptocurrencies.
William Nanjero, a digital monetary companies professional, suggested that earlier than you spend money on cryptocurrencies, understand the fundamentals, similar to in another type of funding.
Supply: TUKO.co.ke
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