UGANDA, Africa – Several citizens in Uganda were left in the pitch after a virtual asset startup gone bad.
As reported by Daily Monitor, an independent newspaper company, dozens of Ugandan people in the district of Masaka were promised employment by a starting cryptocurrency business. These citizens fell for the assurances of this bogus crypto company, which stole their money.
As per the report, the cryptocurrency company named Dunamiscoins Resources Limited opened last month in the district of Masaka. This company started engaging Ugandans to capitalize and become part of the cryptocurrency network.
A month after the company’s opening, the offices of Dunamiscoins were allegedly shut down.
A businessman, who operated next to Dunamiscoins, shared that the bogus company was convincing Ugandans to join the network. Moreover, the company promised a 40-percent return on their cash investments.
The infamous cryptocurrency network worked with money exchange companies, which are located in the local range. It’s where the company recruited new investors to the system.
Aside from the stolen money issue, Dunamiscoins also hired 50 local individuals to work for their company. This cryptocurrency company also recruited cashiers, office assistants, and managers. Furthermore, the company also employed marketing executives.
A Ugandan salesperson in Dunamiscoins mentioned that it also swindled the money of the recruited employees. The money was given during the registration. Moreover, these individuals were guaranteed high investment returns.
Every candidate was required to pay 20,000 Uganda Shillings, which is equivalent to $5, to register with Dunamiscoins. However, when these applicants showed for work the next day, the offices of the said crypto company were abandoned.
Despite a little number of Shillings, the strategy by Dunamiscoins assisted the scam.
Dunamiscoins’ victims are calling other Ugandan individuals who were also affected, and these are advised to move forward. These victims are asked to report the experience to significant authorities.
On frequent occasions, the government of Uganda mentioned that it doesn’t recognize digital assets as legit currency. Moreover, it also stated that no administrations were qualified to trade these virtual assets inside the country.
The Dunamiscoins representatives were unreachable after the said incident. However, the crypto company’s website is active. Hard Fork tried to reach out by using the email on the site. Unfortunately, it received an error, stating “address not found.”
Theft in cryptocurrency is a typical issue globally. On the other hand, matters about these virtual assets involving employment is a new thing.
A dozen of individuals who were victims of the said scam lost both money and chance for employment.