Police in the Central African Republic have made an arrest in connection with a cryptocurrency scam that has left many citizens in financial ruin. The alleged mastermind behind the scheme is Bryan Ndikum, a Cameroon national, who was apprehended in Berberati. According to reports, Ndikum and his associates operated a fast-growing crypto firm called Clé du Succès (“key to success”), which suddenly disappeared overnight, taking investors’ money with them.
Investors affected by the scam include high-level politicians, senior civil servants, and traders. Journal de Bangui, a local media outlet, stated that “law enforcement forces” were able to locate and arrest Ndikum in Berberati. It is believed that Ndikum and his associates were running the operations of Clé du Succès from Bangui, the capital of the Central African Republic. Ndikum was believed to be in Berberati to establish a regional office for the firm before his arrest.
However, the other members of the group, described as Nigerians and Cameroonians, managed to flee the country before the authorities apprehended them. The police stated that Ndikum and his associates had launched an advertising campaign promoting cryptocurrency, specifically Bitcoin. They promised potential investors a 20% return on their investment.
Although Ndikum has not been formally charged, he is expected to face charges of fraud and breach of trust. The media outlet reported that the alleged scam operators utilized Bitcoin logos in their marketing materials to deceive investors. The executives of Clé du Succès disappeared after spreading false reports of an armed attack outside the capital, making off with over $1.6 million worth of cryptocurrency and fiat currencies.
Even the company’s employees have been left in the dark regarding the whereabouts of the executives. Reports indicate that the Clé du Succès office has been closed for over a week, leaving both staff members and customers in a state of uncertainty. This incident has deeply affected the crypto community in the Central African Republic, as well as the wider region of Sub-Saharan Africa.
It is worth noting that the Central African Republic’s government had previously shown interest in cryptocurrency adoption. Last year, the government announced that Bitcoin and other digital currencies would be recognized as legal tender. This decision was seen as a significant milestone for Bitcoin, following El Salvador’s similar move in embracing BTC. However, the CAR National Assembly repealed the decree less than a year later, dampening the hopes of Bitcoin supporters in the country.
