Zugacoin Controversy: Supposed Poverty Eradicating Cryptocurrency Criticized as Just Another Complex Nigerian Ponzi Scheme

After reports that merchants and holders of “Zugacoin” cryptocurrency are unable to make withdrawals, the founder of the Nigerian crypto, Sam Zuga responded by accusing unnamed “ignorant people” of working to tarnish the project. One Nigerian expert has advised prospective zugacoin investors to prioritize learning finer details about the project before investing. A Financial System […]

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FBI Helps to Train Nigerian Crypto Crime Investigators

FBI Helps to Train Nigerian Crypto Crime InvestigatorsThe United States government through the FBI recently helped to run a training exercise whose goal is to enhance the capacity of Nigerian cryptocurrency crime investigators, the U.S. Mission Nigeria (USMN) has said. The exercise saw over 50 Nigerian investigators and prosecutors participate. Understanding the Trends In its August 25 tweet, the USMN reveals that […]

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Fleeing Lynchpin of Nigerian Crypto Ponzi Scheme Inksnation Captured

Fleeing Lynchpin of Nigerian Crypto Ponzi Scheme Inksnation CapturedThe lynchpin of Inksnation, one of Nigeria’s biggest crypto Ponzi Schemes, Omotade-Sparks Amos Sewanu, has been captured. According to Nigeria’s Economic and Financial Crime Commission (EFCC), Sewanu, who was on the run, was nabbed in Sokoto, a city located in the northwest part of the country. Still, in its May 28 Twitter statement, the EFCC […]

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Nigerian Authorities Put Mastermind of the Inksnation Crypto Scam on Wanted List

Nigerian Authorities Put Mastermind of the Inksnation Crypto Scam on Wanted ListNigeria’s Economic and Financial Crimes Commission (EFCC) is seeking the public’s help in locating Omotade Sparks Amos Sewanu, the mastermind behind the Inksnation crypto scam. According to a notice published in the local media on November 11, the EFCC wants Sewanu to respond to fraud charges relating to Inksnation’s purported crypto token- Pinkoin. The Inksnation […]

The post Nigerian Authorities Put Mastermind of the Inksnation Crypto Scam on Wanted List appeared first on Bitcoin News.

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Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator Warning

Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator WarningOne of Nigeria’s most brazen crypto scams, Inksnation remains operational and still invites new investors some three months after the country’s Securities and Exchange Commission (SEC) deemed its activities illegal. The SEC has previously warned Nigerians against investing with the scam saying doing so would be at own risk as there is no legal recourse […]

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Ignorance and Greed Sustain Cryptocurrency Scams in Nigeria

Ignorance and Greed Sustain Cryptocurrency Scams in NigeriaNigeria is not only Africa’s biggest cryptocurrency market but is also a leading adopter of digital currencies globally. Official figures show the country is well ahead of fellow African countries. Citizens of the West African state use cryptocurrencies for cross border payments as well as for international remittances among many growing use cases. However, this […]

The post Ignorance and Greed Sustain Cryptocurrency Scams in Nigeria appeared first on Bitcoin News.

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