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October 22, 2025
1w ago

DCI Addresses Warning to Kenyans Against Investing in Crypto Scheme

DCI Addresses Warning to Kenyans Against Investing in Crypto Scheme

The warning contained details of the crypto scheme, which was promising quick profits to investors...

✨ Key Highlights

The Directorate of Criminal Investigations (DCI) has debunked a fake warning circulating in Kenya, clarifying that they did not issue an alert about a cryptocurrency Ponzi scheme. The DCI urged Kenyans to ignore the false warning and reiterated that such schemes promise quick profits but ultimately defraud investors.

  • Kenya recently passed the Virtual Asset Service Providers Bill to regulate digital assets, awaiting President William Ruto's assent.
  • The DCI highlighted that illegal Ponzi schemes can lead to fines of up to Ksh 10 million and/or up to 10 years imprisonment.
  • Kenyans hold an estimated USD 1.2 trillion (Ksh 155 trillion) in virtual assets, with new regulations aiming to provide safety rails for investors and companies.

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