Nigerians recount loses to crypto fraud

It is expected of every discerning investor to make thorough inquiries or seeking the services of professionals before taking certain investment decisions. In most cases, several Nigerians do not care about these guidelines and they usually get their fingers burnt.

Miss Bibi Umo, a young Corps member, is one of such unsuspecting investors. She invested about $1300 cumulated from her annual savings in a crypto fund, Nigerian Calabar Company.

The company targeted her and other unsuspecting members of the public through the aggressive social media campaign, urging them to invest with a promise of 2% interest daily, 14% weekly and 50% monthly.

According to her, the offer, which she subscribed to in December 2018, was too good to ignore, a move that made her lost her savings. Unknown to her, the investment and returns are a mirage.

Another investor, Miss Bimbo, opened a Bitsane account ( an Irish crypto Exchange), around May 2019. After three weeks of crypto…