In Brief Crypto Ponzi schemes are now explicitly illegal under ISA 2024, with operators facing up to ten years imprisonment and heavy fines. SEC Nigeria gains authority to regulate digital assets, freeze scam-linked accounts, and enforce KYC/AML standards on all VASPs. Mandatory registration, enhanced investor protections, and global compliance benchmarks lay the groundwork for a secure, innovative…
CBEX Ponzi scheme collapsed in April 2025, trapping thousands of Nigerian and Kenyan investors. EFCC crypto scam investigation is now in full swing, with global agencies like the FBI and Interpol involved. Exploiting economic hardships, an AI-powered trading scam Kenya narrative lured victims with unrealistic returns. Cryptocurrency is among the most lucrative ventures today, possibly…
TL;DR, Sam Bankman-Fried sentencing: 25 years and an $11B penalty after a four-hour jury deliberation, following revelations that billions in FTX customer funds were misused. The FTX collapse triggered a severe “crypto winter,” but the market’s resilience and the subsequent sentencing mark a pivotal turn towards accountability and maturity for the entire industry. Despite maintaining…
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