Ugandan cryptocurrency firm ‘scams investors’

Investors have been left reeling after a so-called cryptocurrency firm in Uganda disappeared with their cash.

Dunamiscoins Resources Limited opened in Masaka in central Uganda in November and started taking money from local clients – promising 40% interest.

However, the firm’s office is now empty and angry investors have been left with nowhere to turn.

Joseph Musiitwa Natakemula operates a boutique next to the empty office and told a reporter for the Ugandan newspaper the Daily Monitor that clients found the offices empty yesterday.

Mr John Marry Ssemujju, who took a job as a salesperson for Dunamiscoins and invested money in it, said: “They told me it would help me a lot. They said they would give me a job.

“I went to their offices in Kampala for an interview. They then convinced me to invest some money with them saying I would get it back with high interest in dollars.”

Mr Herman Ssentongo, the Masaka Resident District Commissioner, is urging victims and anyone with information to come forward.

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He told the Daily Monitor: “I have intelligence information that people came in the night and took all their property, including computers and furniture. I have ordered surveillance on this office such that we determine what’s happening.

“In the meantime, I call upon people who have been defrauded by these people to report to security agencies or my office such that the law takes its course. I also call upon Ugandans to be vigilant.”

The company website states its aim is to “introduce the public to cutting-edge innovations in the world of online trading and other financial services”.

Coin Rivet has approached Dunamiscoins for a comment.

The post Ugandan cryptocurrency firm ‘scams investors’ appeared first on Coin Rivet.

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