NAIROBI, Kenya — October 29, 2026
A Kenyan national is among six people charged in the United States over an alleged international cryptocurrency investment scam that investigators say targeted approximately 800 Americans through fake online relationships and fraudulent investment platforms.
The Kenyan, Nicodemus Hingima Monyancha, is accused of working with suspects from Cameroon, Uganda, Rwanda and China in a scheme allegedly linked to scam compounds in Madagascar.
The charges were announced by the US Department of Justice on October 27 as part of a wider crackdown on organised cryptocurrency fraud.
According to investigators, the alleged operation used dating websites and other online platforms to establish relationships with victims before directing them towards fraudulent non-fungible token (NFT) investment websites.
The defendants have been accused of participating in the scheme. The charges are allegations, and they should not be treated as proof of guilt. <Cite refs={[“turn119058search0″,”turn119058search1”]} />
How the Alleged Romance Scam Worked
US prosecutors allege that individuals involved in the operation posed as women on dating platforms and developed relationships with unsuspecting users.
After gaining their trust, the suspects allegedly encouraged victims to connect their cryptocurrency wallets to websites presented as NFT investment platforms.
Victims were reportedly persuaded to deposit additional funds, which investigators allege were then taken without their knowledge.
The scheme allegedly exploited the trust built through online conversations to persuade people to risk their money on investments that were not genuine.
According to the US Department of Justice, investigators identified approximately 74 cryptocurrency wallets associated with around 800 victims across the United States who reported losses after interacting with the fraudulent platforms. <Cite refs={[“turn119058search0″,”turn119058search2”]} />
Investigators Trace Alleged Operation to Madagascar
Court affidavits cited by US prosecutors indicate that the alleged criminal group established scam compounds in Madagascar in early 2025, having reportedly moved operations from Cambodia following law enforcement action there.
The FBI later assisted Malagasy authorities during an operation in August 2026 that involved 13 suspected scam compounds and the seizure of more than 3,200 electronic devices.
Investigators said evidence recovered from devices included employment records, cryptocurrency wallet information and scripts allegedly used to guide communications with victims.
Some of the scripts reportedly instructed workers on how to manipulate victims emotionally to persuade them to invest.
The investigation also traced funds associated with the alleged scheme to cryptocurrency accounts linked to individuals based in China. <Cite refs={[“turn119058search0″,”turn119058search3”]} />
US Seeks Cooperation Over the Six Defendants
The US Department of Justice has called on Madagascar to cooperate with American authorities and facilitate the extradition of the six defendants to face the charges.
The department said investigators encountered difficulties interviewing some individuals connected to the suspected operation after several people were repatriated to China or were no longer in Malagasy custody.
Authorities are continuing investigations into the alleged fraud, including efforts to identify people involved and trace cryptocurrency linked to the scheme.
The case highlights the international nature of online investment fraud, in which people in one country can be targeted by operations working from another.
Warning Signs Kenyans Should Watch For
Although the case concerns alleged victims in the United States, the methods described offer important lessons for internet users in Kenya and elsewhere.
People should be cautious when someone they meet online quickly introduces cryptocurrency investments, promises unusually high returns or pressures them to move money to an unfamiliar platform.
Other warning signs include requests to connect a cryptocurrency wallet to an unverified website, demands for additional deposits to unlock supposed profits, and attempts to discourage independent checks.
A romantic relationship established online does not prove that an investment opportunity is legitimate. Users should verify investment platforms independently and never share wallet recovery phrases, passwords or security codes.
The US case remains ongoing, and any further developments will depend on the legal process and the outcome of the investigations.
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