The Central African Republic police have apprehended a key suspect believed to be one of the masterminds behind a crypto scam that left numerous investors, including high-level politicians, senior civil servants, and traders, grappling with financial losses.
The suspect, identified as Bryan Ndikum, a Cameroonian national, was arrested in Berberati, according to media outlet Journal de Bangui.
Authorities believe that Ndikum and his associates operated a fast-growing crypto firm named Clé du Succès, which translates to “Key to success” from the capital city, Bangui. Their scheme involved luring investors with promises of substantial profits, but when the investors tried to cash out, the operators vanished, allegedly taking with them more than $1.6 million in cryptocurrency and fiat.
The police investigation indicates that Ndikum had been sent to Berberati to establish a regional office. However, his associates, said to be from Nigeria and Cameroon, had likely already left the country.
Although Ndikum has not been formally indicted, local media reports suggest that he may face charges related to fraud and breach of trust.
According to the media outlet, the scammers used deceptive tactics, including unauthorized use of Bitcoin (BTC) logos, to attract potential investors.
They claimed that investors could earn up to 20% on their investments. However, the company’s executives disappeared shortly after spreading false reports of an “armed attack” just outside the capital.
Media outlets reported that Ndikum and his associates’ sudden disappearance left both employees and investors in a state of confusion, with the company’s office doors remaining shut for over a week.
In recent years, cryptocurrency has gained popularity in the Central African Republic and the broader Sub-Saharan Africa region. Last year, the government took a landmark step to officially recognize Bitcoin and other cryptocurrencies as legal tender, and a few months later, the country announced plans to introduce its own digital currency, known as the Sango Coin.
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