Kenyans Raise Alarm After Optcoin Platform Becomes Inaccessible
Several Kenyan investors have reported losses after a crypto and forex trading platform known as Optcoin allegedly became inaccessible this week, leaving users unable to withdraw their funds.
According to multiple reports from affected users, the platform either went offline or could no longer be accessed through its usual channels. Users claim that withdrawal requests, which had already been delayed for weeks, eventually stopped altogether.
Some investors further allege that they were redirected to a new website, where they were asked to pay a registration or activation fee of at least KSh 24,000 in order to “unlock” or recover their accounts and funds.
The incident has quickly gained attention due to its similarities with previous investment scams in the country, where platforms promise high returns, expand rapidly through referrals, and collapse once withdrawal pressure increases.
Claims by Affected Users
Based on local media reporting and testimonies shared by users, several common claims have emerged:
- The Optcoin platform reportedly became inaccessible without clear notice.
- Withdrawals were allegedly delayed over time before stopping completely.
- Users claim they were directed to a new platform demanding fresh payments before access could be restored.
- Reports indicate the platform was widely promoted through trusted social, religious, and community networks.
Authorities have not yet issued an official conclusion on the matter. Investigations, where initiated, are expected to take time. For now, these remain claims reported by users and local media outlets.
Why Such Schemes Spread Quickly
Pyramid-style investment schemes often spread rapidly because they rely on trust and emotion rather than clear business models.
These schemes typically appeal to:
- Hope, especially among people seeking financial relief
- Trust, as introductions often come from friends, relatives, or community leaders
- Pressure, using fear of missing out
- Early payouts, where some users receive initial returns to build confidence
In many cases, these early payouts are funded by money from new participants rather than real investment profits.
Common Warning Signs in Pyramid-Style Crypto Schemes
Several red flags are often present in such cases:
Guaranteed profits
Legitimate investments do not guarantee returns. Any platform that promises certain profits should be treated with caution.
Unusually high returns
Claims such as “double your money,” “30 percent monthly returns,” or “daily profits” are common indicators of potential fraud.
Heavy focus on referrals
When recruitment is emphasized more than an actual product or service, the structure often resembles a pyramid scheme.
Withdrawal delays
Many schemes allow easy withdrawals at the beginning, then introduce delays with explanations such as system upgrades or verification checks.
Requests for additional payments
Being asked to pay fees or taxes to access existing funds is widely considered a serious red flag. Victims of Optcoin report similar demands this week.
What Investors Can Do
For individuals who suspect they may be involved in a fraudulent scheme, it is recommend to take the following steps:
- Stop sending additional money, especially fees meant to unlock or recover funds.
- Save all evidence, including screenshots of accounts, payment records, and communication messages.
- Report the matter to authorities, such as the Directorate of Criminal Investigations, providing all available documentation.
- Inform others carefully, focusing on facts to prevent further losses.
Protecting Yourself Going Forward
Before investing in any platform, experts advise asking basic questions:
- Is the source of profit clearly explained?
- Is there a real product or service beyond recruitment?
- Can funds be withdrawn freely at any time?
- Is the company properly registered and verifiable?
- Would the investment still make sense without referrals?
If answers are unclear or evasive, financial experts advise stepping back and reassessing.
