Ugandan cryptocurrency firm ‘scams investors’

Investors have been left reeling after a so-called cryptocurrency firm in Uganda disappeared with their cash.

Dunamiscoins Resources Limited opened in Masaka in central Uganda in November and started taking money from local clients – promising 40% interest.

However, the firm’s office is now empty and angry investors have been left with nowhere to turn.

Joseph Musiitwa Natakemula operates a boutique next to the empty office and told a reporter for the Ugandan newspaper the Daily Monitor that clients found the offices empty yesterday.

Mr John Marry Ssemujju, who took a job as a salesperson for Dunamiscoins and invested money in it, said: “They told me it would help me a lot. They said they would give me a job.

“I went to their offices in Kampala for an interview. They then convinced me to invest some money with them saying I would get it back with high interest in dollars.”

Mr Herman Ssentongo, the Masaka Resident District Commissioner, is urging victims and anyone with information to come forward.

He told the Daily Monitor: “I have intelligence information that people came in the night and took all their property, including computers and furniture. I have ordered surveillance on this office such that we determine what’s happening.

“In the meantime, I call upon people who have been defrauded by these people to report to security agencies or my office such that the law takes its course. I also call upon Ugandans to be vigilant.”

The company website states its aim is to “introduce the public to cutting-edge innovations in the world of online trading and other financial services”.

Coin Rivet has approached Dunamiscoins for a comment.