Kenyans warned against investing in BTC business and promised 400% return in six hours

The capital markets Office (CMA) Kenyan regulator has warned Kenyan investors and citizens against investing in Fxbitinvest, a bitcoin trading company. The warning was issued after the regulator noticed that fxbitinvest was using extravagant return-on-investment promises to lure suspicious Kenyans.

Unrealistic Promises
According to a CMA statement released on August 12, Fxbitinvest offers potential investors a return on investment (ROI) of 400% within six hours. In October, the regulator also defines “bill payment numbers” used by individuals behind Fxbitinvest to raise money from Kenyans.

The CMA lists people associated with the company as employees or owners. The people identified and their users on social media are Hassan Juma and Godfrey Kum, both from Kenya. A third person, believed to be in North America, was identified only as an anonymous director.

What is the truth?
In addition to advising Kenyans not to invest in a bitcoin Trading Company, the CMA said investors duped by fxbitinvest should contact Kenyan police. A statement from the CMA explained:::

Any investor robbed of their company’s investments is advised to report it to the nearest police station, provide a national identity card, escrow check or mpesa statement, sign a contract and submit other documents to support the claim.

Alternatively, the regulator said affected investors could file complaints directly via the online complaints portal or by visiting CMA offices.

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Bitcoin fraud, bitcoin investments, Bitcoin fraud, Capital Market Management, Fxbitinvest, Kenya, Police, law enforcement, Mpesaread more

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