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South Africans Fell Victim to Scammer Claiming Pula Coins are Bitcoins

Recently, a group of South African investors has decided to come clean about losing money to a scammer after he persuaded them to buy and hold pula coins, claiming that the Botswana currency is Bitcoin.

In actuality, this incident occurred back in 2019 — back when bitcoin was priced at $3,500. This issue was only recently revealed when a member of the group known as “Lizet” attempted to cash out after losing her job.

Lizet said:

“I lost my job and decided to sell one bitcoin since it had doubled in price (and that is when) I found out I had bought two 5 pula coins for $6,988 and now the Nigerian man who scammed us is no where to be found.”

Lizet added that the scammer, before the group noticed that they were being conned, explained that they are currently hodl-ing the assets and that people will be scrambling to buy the coins from them once “the price is right”. These words were convincing enough to get the group waiting patiently for the day they become millionaires.

The authorities have confirmed that the coins — allegedly bought for nearly $3,449 — are actually Pula coins, with the information filed off and engraved with the letters “BTC”.

It is highly advisable to be wary of any get-rich-quick schemes. Do Your Own Research and invest wisely. Read this to familiarize yourself with scams surrounding bitcoins.

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