Digital experts warn of rising Ponzi-style investment schemes exploiting citizens amid economic crisis and rebel conflicts in eastern Congo.
The Democratic Republic of Congo (DRC) is witnessing a surge in online crypto-trading scams, promising instant wealth to desperate citizens amid ongoing economic hardship and conflict in the eastern region.
In Bukavu, South Kivu’s capital, residents flock to dubious trading platforms that claim to offer extraordinary returns. “With $1,000, I earn up to $700 a month,” boasted John, a local civil servant and artist. But experts warn these are classic pyramid schemes that collapse when recruitment stops.
According to digital security trainer Justin Murhula, these platforms exploit the population’s vulnerability:
“Many people, searching for quick wealth amid poverty and war, fall victim to these scams,” Murhula told AFP.
Since the M23 rebel group captured key eastern cities including Goma and Bukavu, banks have been shut down to prevent funding rebels, forcing many citizens into unregulated online ventures.
With law enforcement structures in disarray, victims have little to no recourse.
Lawyer Pascal Mupenda said several of his colleagues had been lured by such fake investment networks. “They managed to convince three of my colleagues,” he lamented.
In a nation where 73% of citizens live on less than $2 a day, the allure of fast cash continues to outweigh the risks.
Authorities warn that until financial oversight and digital literacy improve, the DRC will remain fertile ground for such frauds.
(Source: AFP)
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