Published On: Sat, Apr 14th, 2018

Nigerian Bitcoin Scam Makes Off with Millions (Again)

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Yet another bitcoin-related scam has ruined the lives of many Nigerians unfortunate enough to have invested in it.
As reported by The Guardian, a bitcoin company based in Calabar, Nigeria has made off with millions of Naira in customer funds.
After making multiple unsuccessful phone calls to the company angry customers apparently descended upon the company’s office early yesterday morning — after which they discovered that the company no longer existed. The office had been closed and those in charge had left long since vacated the premises.
The company had apparently left behind some items, however, as over 1000 people reportedly broke into the property and made off with anything and everything left behind by the fraudulent operation.

False promises
Bitcoin scams in Nigeria are fairly commonplace.
This time, the company in question claimed to offer customers a 30 percent bonus after a week of online trading. Unsurprisingly, that turned out to be false — and those who invested money into the questionable operation got burned.
One such customer, named Ifeanyi, told The Guardian:
This is things fall apart. I put in over N2.5million and now everything is gone.
Another customer actually claims people were making 30 percent …

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