Common crypto scams in Kenya and how to avoid them
The crypto scams that target Kenyans, including off-platform M-Pesa deals, fake support, and guaranteed-profit schemes, and how to stay safe.
Crypto scams in Kenya often use familiar payment habits against you. Knowing the common patterns is the best protection.
Off-platform M-Pesa deals
A scammer offers a great rate but asks you to pay M-Pesa directly, outside Coinwaka. Once you pay, they disappear. Only pay through Coinwaka. On P2P, the crypto is held in escrow until payment is confirmed, so keep every deal on platform.
Fake support and impersonation
Scammers pretend to be Coinwaka support on WhatsApp, Telegram, or by phone, and ask for your password, PIN, OTP, or remote access. Coinwaka will never ask for your PIN, password, or OTP. Reach support only through the app.
Guaranteed-profit and "double your crypto" schemes
Anyone promising guaranteed or risk-free profit, or asking you to send crypto to "activate" a bonus, is running a scam. Crypto prices move and no real platform guarantees returns.
Romance and investment-group pressure
A new online contact or a hyped group pressures you to "invest" quickly. Pressure to act fast is a warning sign. Slow down and verify.
How to stay safe
- Set a transaction PIN and turn on 2FA.
- Set an anti-phishing code so you can spot fake emails.
- Never share an OTP or your M-Pesa PIN with anyone.
- On P2P, only release crypto after you confirm the payment actually arrived in your account.
Report a scam
If something feels wrong, stop and report it. See the Scam Alert Center.