Kenyans Lost $120 Million to Cryptocurrency Scams in the Past Financial Year — Government Official

Kenyans are believed to person mislaid arsenic overmuch arsenic $120 cardinal to cryptocurrency scammers successful the past fiscal year, a authorities authoritative has said. The official, however, suggested the fig of Kenyans losing funds this mode tin beryllium reduced if the media helps by disseminating the close information.

Media Told to Offer Guidance

A Kenyan furniture caput has claimed his chap countrymen mislaid astir $120 cardinal to crypto scammers successful the past fiscal year. The secretary, Joe Mucheru, added that galore Kenyans are getting scammed due to the fact that they deficiency the due information.

In his remarks portion speaking astatine a league focused connected instrumentality and order, Mucheru suggested the fig of those suffering aft losing funds to criminals tin beryllium reduced if the media plays its part. He explained:

I deliberation adjacent arsenic you study and analyse these issues, you tin besides beryllium giving radical guidance connected the direction, wherever they request to invest, however they request to support themselves.

Mucheru besides encouraged the sharing of ideas and accusation betwixt the authorities and the media. Doing this, helium said, enables the parties to collaborate adjacent further.

Kenya, conscionable similar galore different African countries, is plagued with scams that are packaged arsenic morganatic cryptocurrency projects. For instance, successful December 2021, a report from Bitcoin.com News stated that a Kenyan businessman was facing allegations of defrauding investors done his Aidos Kuneen cryptocurrency. The study said investors successful the businessman’s scam crypto mislaid implicit $140 million.

Therefore, successful summation to giving guidance to Kenyans, Mucheru besides urged Kenyan media outlets to see becoming repositories for accusation that tin beryllium utilized by investors. He said: “You should truly physique the repository of a batch of the accusation that radical really need.”

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