Hundreds of residents in Zimbabwe have fallen victim to a fraudulent scheme disguised as the Bitcoin trading platform Amexcyp Market. Scammers, posing as the licensed fintech service InnBucks MicroBank, used social media and messenger advertisements, promising high returns on investments in $BTC . Victims were lured to invest funds through the popular local payment system Ecocash, after which they lost access to their money. InnBucks officially stated that it has no connection to Amexcyp Market and urged users to verify platforms through official channels.
This incident underscores the rise of cryptocurrency fraud in regions with low financial literacy. The authorities in Zimbabwe are investigating the case and working on new regulations for the crypto market to protect citizens. Potential losses have not yet been assessed, but victims are advised to be cautious and verify the legitimacy of platforms.
To avoid similar schemes, only use verified exchanges and avoid offers with unrealistic promises. Stay updated on crypto market news from #MiningUpdates #Cryptoscam #BitcoinFraud #ZimbabweCrypto