Detectives drawn from the Directorate of Criminal Investigations (DCI) have arrested four suspected cryptocurrency scammers in the Kahawa Wendani area in Nairobi.
The four, apprehended on Friday, were allegedly working with GHash Mining, which claims to be a leading technology-driven cryptocurrency mining company with over 25 data centres across Africa.
DCI and other security units conducted the joint operation after several people reported losing huge sums of money at the hands of the miners.
Upon arrest, the officers recovered 1,136 SIM cards from three different mobile service providers.
Also confiscated during the syndicate were eight mobile phones, a tablet, and a laptop, recorded as exhibits to aid in the investigation.
The suspected scammers were booked at the Muthaiga and Pangani police stations pending arraignment as investigations into the syndicate continue.
DCI further stated that more operations would be conducted to flash out other suspects operating under the same crypto business.
"We are currently investigating several such cases where investors who fell for the scam are crying foul," DCI stated on February 7, 2024.
The scammers, as explained by the DCI, send short messages enticing unsuspecting Kenyans with promises of earning easy money. They also reportedly send phishing links which compromise the online security of their victims.
"Verify the authenticity of any online investment platforms with Capital Markets Authority (CMA) and the Communications Authority of Kenya (CA) respectively before investing your hard-earned money," DCI warned.
The National Assembly’s Finance and National Planning Committee in December last year approved the publication of the Capital Markets (Amendment) Bill, 2023, aimed to allow taxation of Kenyans trading in cryptocurrencies.
