Cryptocurrency

An alarming financial scandal has hit Ghana as the online investment platform Pacminer reportedly defrauded nearly 800,000 investors, some losing over GHS 90,000. Pacminer, presenting itself as a lucrative cryptocurrency mining venture, lured investors by offering cloud-computing capacity for mining digital currencies. However, between December 26 and 27 last year, the platform abruptly ceased operations, revealing the fraudulent nature of its business, according to <a href="https://3news.com/news/pacminer-swindles-close-to-800k-ghanaians-in-online-investment-scheme/" rel="noopener noreferrer nofollow">3news</a>.
Investors were initially convinced to purchase machines and activate them daily for mining operations. This turned out to be a facade, as the reality of Pacminer's operations came to light. Many investors found themselves unable to withdraw funds from their accounts, leading to widespread despair and financial loss.
The situation worsened when official communication channels like WhatsApp groups went silent from the early hours of December 26, 2023. Pacminer's principal administrators have been unreachable since then, adding to the investors' anxieties. The inability to withdraw funds between December 24 and 27 raised serious concerns, further aggravated by the company's weak justification that payments were delayed due to holidays.
The victims of this scheme span across various demographics, including corporate employees, students, and graduates. Investments ranged from personal savings to loans and trust funds. While some early investors reaped returns, the majority, especially those who invested later, found their funds irretrievably locked.

Pacminer Scandal: 800,000 Ghanaians Defrauded in Cryptocurrency Scheme

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