Brazil bitcoin con scheme goes down with Kenyans' cash

Ms Esther Muthoni who lost Sh3.2 million to cryptocurrency trading company Velox 10 Global during her interview at the Nation Centre on March 3, 2019. PHOTO | FRANCIS NDERITU | NATION MEDIA GROUP

What you need to know:

  • Velox 10 Global, a little-known company, claimed to trade in bitcoins.

  • Company agent says those who gave him money were sane adults who knew what they were doing.

  • Victims accuse Central Bank and Capital Markets Authority of not doing enough to rein in firm.

A Brazilian pyramid scheme operating in Kenya has gone down with hundreds of millions of shillings belonging to local bitcoin investors.

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