“I still drive Ferraris and some of you can’t buy food.” This is the last message left by the founder of the Bitstream Circle cryptocurrency exchange platform to its Kenyan users. Last March, he passed out with $10 million. A fraud that is no longer exceptional in Kenya. Surfing on the craze for digital devices, scammers have made the country one of their favorite playgrounds in Africa, says the Kenyan daily Nation.
Yet the Central Bank of Kenya has been trying to fight crypto fever for years. While the phenomenon just took hold of the country in 2015, it prohibited financial institutions from offering cryptocurrency exchange services and