The Directorate of Criminal Investigations (DCI) is holding a quartet of suspected cryptocurrency fraudsters accused of feeding unsuspecting members of the public.
The four linked with the larger GHash mining scam were arrested on Friday, February 16, within Kahawa in Kiambu county.
They have been identified as Otieno Dismas Ongoro, Robin Mwika, Wycliff Otieno Olal and Michael Otieno Kaumba.
The men were booked at Muthaiga and Pangani Police Stations awaiting arraignment on Monday, February 18.
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Upon a search by the detectives, the suspects were found to be in possession of 1336 SIM cards -Safaricom 1235, Airtel 80 and Telkom 21- a tablet, laptop and eight mobile phones.
In the crypto mining setup, potential investors are lured into pumping money into the accounts held by the platforms with the promise that they would multiply within a period of time.
However, as the investors witness their monies piling up, they are motivated to reinvest; but when they deem it fit to withdraw the amounts, the accounts crash and mother platforms disappear.
The DCI recently revealed they were pursuing a syndicate of online scammers fleecing civilians.
"We are currently investigating several such cases where investors who fell for the scam are crying foul. 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," DCI stated.
However, to avert more losses, the country's top investigative body cautioned Kenyans to verify the online trading platform before investing.
"The DCI cautions Kenyans and any other person to beware of this scam, and advises them to verify the authenticity of any online investment platforms with Capital Markets Authority (CMA) and the Communication Authority (CA) respectively before investing their hard-earned money."
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