Capital Markets Authority of Kenya Puts Out a Warning Against Investing in FXBitInvest, a Kenyan Crypto Service

The Capital Markets Authority of Kenya (CMA Kenya) has put out a cautonary warning against investing in FXBitInvest, an online bitcoin trading company in Kenya.

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The Capital Markets Authority of Kenya (CMA Kenya) has put out a cautonary warning against investing in FXBitInvest, an online bitcoin trading company in Kenya.

According to the regulator, the company has been luring the public in Kenya to invest in products while promising a return of 400% within 6 hours.

CMA Kenya has named the company’s directors and the M-PESA PayBill numbers used to collect funds from unsuspecting investors.

The regulator has requested that any investor who has been defrauded to report to the nearest Police Station with the relevant documents, including any contract that was entered into to support the claim.

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RECOMMENDED READING: Capital Markets Authority of Kenya Highlights the Challenges of Sandboxing Crypto and Blockchain Solutions in Kenya

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