Kenyans warned against using these new coins

Do not accept or give these coins

Piles of digital currency (Twitter)

The Capital Markets Authority (CMA) has issued a warning against the use of digital coins from Kenicoinexchange.com.

Speaking on Friday, CMA CEO Paul Muthaura cautioned those trading with digital currencies that the company behind Kenicoins, Wiseman Talent Ventures, is not registered with them.

"The Authority is investigating the operations of Wiseman Talent Ventures.

"We have noted discrepancies in the information provided on the firm’s website and the information provided to the authority during interviews of Wiseman Talent Ventures leadership in relation to the total number of Kencoin sold and the total funds raised

"It is important for the public to know that the nature and features of the capital raising and coins trading promoted by Wiseman Talent Ventures have not been approved by the authority," he stated.

Promised 200% return on Investment

Muthaura went on to caution Kenyans that he company is luring unsuspecting investors with a promise of over 200% return on investment.

The company has been marketing a Kenicoin issued at an Initial Coin Offering (ICO) of Sh 100 to be trading at Sh 2,000.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Wheelbarrow gets new meaning during Ruto's tour of Ukambani

Wheelbarrow gets new meaning during Ruto's tour of Ukambani

Find out why Kenya is at the forefront in assessing the security situation in Mali

Find out why Kenya is at the forefront in assessing the security situation in Mali

Supreme Court stops Anne Kananu's Swearing-in as Nairobi Governor

Supreme Court stops Anne Kananu's Swearing-in as Nairobi Governor

Wawira Njiru named UN Person of the Year in Kenya

Wawira Njiru named UN Person of the Year in Kenya

200 Kenyan students flown to Israel for advanced training

200 Kenyan students flown to Israel for advanced training

I organized a crowd for Raila during Eldoret visit - Oscar Sudi spills

I organized a crowd for Raila during Eldoret visit - Oscar Sudi spills

It's my first time - watch Moses Kuria walking unaided after accident [Video]

It's my first time - watch Moses Kuria walking unaided after accident [Video]

Leaders of Islamic State and Al Qaeda killed within a span of 24 hours

Leaders of Islamic State and Al Qaeda killed within a span of 24 hours

Mike Sonko reacts to court clearing swearing-in of Anne Kananu

Mike Sonko reacts to court clearing swearing-in of Anne Kananu