The directorate of criminal investigations has warned kenyans to be on the lookout due to an increase in the number of cryptocurrency fraudsters.

According to the DCI, the culprits lure unsuspecting Kenyans to join the online platforms and then lose their hard-earned money.

PHOTO | COURTESY DCI

"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 the fraudsters." DCI noted

"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." the statement added.

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PHOTO | COURTESY DCI 

The DCI has cautioned Kenyans to be careful of the investments they decide to make and should verify the platforms with the Capital Markets Authority (CMA) and the Communication Authority (CA)

"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." Said DCI

"Should you have information on anyone using this approach to scam investors, please contact us through the DCI toll-free hotline 0800722203," it added.