Creators of ‘The Key to Success’ Crypto Scam Allegedly Disappear with $1.6 Million in Customer Funds in the Central African Republic
In early October 2023, authorities in the Central African Republic (CAR) launched a comprehensive investigation into the sudden disappearance of the operators behind La Clé du Succès (The Key to Success), a self-proclaimed ‘cryptocurrency investment’ firm. This vanishing act left countless investors in disarray, as their investments seemingly evaporated.
La Clé du Succès, purportedly managed by undisclosed individuals hailing from Nigeria and Cameroon, had been operational for a mere two months before abruptly ceasing all activities.
Notably, the company had secured legal registration and possessed a valid tax identification number, as confirmed by the Ministry of Finance and Budget in the Central African Republic, according to local media source Radio Ndekeluka.
While the precise details of this scam are still emerging, initial reports indicate that the company had enticed clients with the promise of remarkable returns, some claiming as high as 20% on their investments.
It appears that hundreds of individuals in the Central African Republic were ensnared in this scheme, with some entrusting substantial sums, often their life savings, which collectively amounted to millions of CFA francs, to La Clé du Succès.
Allegedly, the scheme absconded with assets totaling up to $1.6 million in both cryptocurrencies and traditional fiat currency.
Outraged and desperate victims converged on the company’s office in an attempt to seek refunds, only to find the premises locked.
Astonishingly, even the company’s own employees, who had invested their money in the scheme, remained oblivious to the founders’ disappearance and joined the protesters in frustration.
Central African Republic law enforcement authorities took one individual linked to the scheme into custody.
Bryan Ndikum, a Cameroonian national, was apprehended in Berberati, southwest of Bangui, and is believed to have had connections with the founders of the dubious enterprise. It is noteworthy that the Central African Republic (CAR) achieved international recognition in April 2022 as the second country to designate Bitcoin as legal tender, signaling a positive attitude toward digital assets within the nation.
Additionally, the country introduced its native digital token, Sango Coin, with the intention of tokenizing its extensive land and mineral resources.
CRYPTO SCAM ALERT | CENTRAL AFRICAN REPUBLIC 🇨🇫
The Central African Republic crypto scam dubbed 'The Key to Success' has reportedly defrauded up to $1.6 million from unsuspecting Africans in the country.
This situation has raised questions about the role of state financial… pic.twitter.com/YwNw3I52JB
— BitKE (@BitcoinKE) October 23, 2023
