Kenyans Lost $120 Million to Cryptocurrency Scams in the Past Financial Year ...
Kenyans are believed to have lost as much as $120 million to cryptocurrency scammers in the last financial year, a government official has said. The official, however, suggested the number of Kenyans losing funds this way can be reduced if the media helps by disseminating the right information. Media Told to Offer Guidance A Kenyan cabinet secretary has claimed his fellow countrymen lost about $120 million to crypto scammers in the last financial year. The secretary, Joe Mucheru, added that many Kenyans are getting scammed because they lack the proper information. In his remarks while....
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Crypto scams are victimizing more and more unsuspecting Kenyans. The cabinet secretary of Kenya’s Ministry of Information and Technology, Joe Mucheru, announced during a conference addressing the threats to law and order in the country that the past financial year, Kenyans lost almost $120 million to crypto scams. According to reports, Kenyans are being dragged […]
People over 55 and under 64 years of age represent the largest age bracket who have fallen prey to scams. Australians have continued getting duped by investment and crypto-related scams, losing 242.5 million Australian dollars to scammers so far in 2022, according to Scamwatch’s latest data. From January to July of this year, the majority of all funds lost to scams of all types were investment scams, which range from romance baiting scams to classic Ponzi schemes and cryptocurrency scams.The figure is already 36% higher than the figures across all of 2021, which revealed that Australians....
For the past year, Kenyans have been lured with the promise of making money quickly through a pyramid scheme started by convicted Russian fraudster, Sergey Mavrodi, reports the Daily Nation, a Kenyan news site. Mavrodi is reported to have designed a major pyramid scheme in Russia before its end came in 1997, which is believed to have conned an estimated $100 million out of its members. He was later sentenced to four and a half years in prison in 2007 for defrauding 10,000 investors of around $4.3 million. This is the same man who set up MMM Global giving promises to Kenyans interested in....
Did you know that approximately $11 million in bitcoins have been stolen since the year 2011? I had a hard time believing it myself, but according to researchers, that's exactly what's happened, and about 13,000 people have fallen victim to an estimated 42 different bitcoin scams over the past four years. Co-author of the research, Marie Vasek explains: "There are a lot of scams that we couldn't measure at all. There were scams we couldn't find or verify... We think presenting our findings as they are, a lower bound, makes a lot of room for us and others to further quantify scams in this....
Over one in five people lost over US$1,000, which goes to show how enticing and convincing some of these scams can be. The Internet is a good place to find just about any product or service, but it also poses severe risks. Earlier this month, Kaspersky Labs released a new report indicating one in two internet users had been targeted by scams. Most of these attacks were part of an attempt to obtain sensitive financial information. Everyone who uses the Internet on a frequent basis will have noticed spam emails offering them the moon and the starts. Especially the messages which claim to....