Copy link
Increase text size
Decrease text size
Link copied

Inksnation cryptocurrency scam mastermind placed on the wanted list in Nigeria

Nigerian authorities want the Inkstation executive to face charges.

Image by Sammy-Williams from Pixabay

Tue, 17 Nov 2020, 17:14 pm UTC

Nigerian authorities are asking the public to help them locate Omotade Sparks Amos Sewanu, the alleged mastermind of the Inksnation cryptocurrency scam. On a notice published on November 11, the nation’s Economic and Financial Crimes Commission (EFCC) place Sewano on its wanted list so he could face charges related to Pinkoin, Inksnation crypto-token, Bitcoin.com reported.

The Inksnation crypto scam enticed its victims with the promise of a lifetime investment income. The scheme became popular at the start of Nigeria’s coronavirus-related lockdown as it offered five investment packages to investors who were already concerned about employment uncertainties due to the restrictions in place.

The Inksnation website noted that income/salary payments will be made using the Pinkoin cryptocurrency. This raised question of how it could be exchanged to cash as the token is not yet listed on any crypto exchange.

The report said that Inksnation attempted to blunt allegations that it is operating a scan by posting testimonials on social media where people claiming to be Pinkoin investors confirmed that they received their monthly amounts. However, it must be noted that Ponzi schemes usually use testimonials to convince potential victims.

EFCC said in its notice that Sewanu is facing charges of obtaining an amount of 32 million Naira or $84,200 “by false pretenses, name dropping as well as fraud.” The alleged crypto scam mastermind reported received the funds “floating the online digital currency.”

Before EFCC’s fraud charges, Sewanu’s Inksnation team was already targeted by other Nigerian agencies. The Nigeria Securities and Exchange Commission’s (NSEC) already labeled Inksnation as an illegal operation while the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN) also said that Pinkoin is a scam.

Despite the NSEC warning, Inksnation still continued its operations. But EFCC’s recent notice will put pressure on Sewanu’s team as he, as well as his accomplices, will be facing possible criminal indictment.

A few days after EFCC’s notice, Inksnation’s website experience some issues. “Be informed!!! If you are experiencing difficulty logging in to your account or any other thing,” the company assured clients. “Do not worry, do not panic and do not start raising alarm. Before informed that website maintenance is ongoing, keep calm.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Avery701
  • 2021.03.04 22:22:23
I had a very bad experience trading with kingoptionsfxtrade.com, i invested $126000 and made profits of $210000 but when i tried to withdraw they contacted me and said i had to pay a withdrawal tax to the company, an extra $48000 which i paid though it doesn't make any sense, then another account manager with the name Elias contacted me and asked me to pay more and when i refused they flagged my account and said my activities were illegal, they suspended my account a few days later and all my efforts to contact their customer service proved abortive. I heard about the Recovery company Lucre Recoup after sharing my experience with traders, i contacted them and they got back my all my investments, they made me know the profits are just fluke to keep me grounded. Am glad i got all my money back from the scammers, contact them at LUCRERECOUP.COM if you need help with any broker. Their service is excellent
  • 0
  • ·
  • 0
  • abana
  • 2021.02.27 02:27:59
How can I recover my funds on binary options?
  • 0
  • ·
  • 0
  • silvastone
  • 2021.01.02 02:50:08
I lost my money to them few months ago. I lost over $6,000, they denied my withdrawal request and and also left it pending. I reached out to them and they never responded back to my emails and calls. They eventually locked me out of my account. I had to reach out to a recovery expert [email protected] Org to help me recover all my money back. Thankfully I have gotten my money back.
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $50,260.00 (+1.16%)
  • Ethereum (eth) $1,724.10 (+3.37%)
  • Tether (usdt) $1.01 (+0.44%)
  • Cardano (ada) $1.14 (+1.61%)
  • Binance Coin (bnb) $235.66 (+3.71%)
  • Bitcoin (btc) $50,260.00 (+1.16%)
Mar 8, 2021 (Monday)
06:21
The Number Of BTC Held On Exchanges Crashed 20% In 12 Months
06:20
If Ripple Goes Away, XRP Will Keep Trading: CEO Brad Garlinghouse
06:19
Chainlink announced that decentralized finance protocol Set Protocl has integrated with DPL/USD price feed.
06:16
PolkaFoundry To Postpone IDO Plan
06:12
UFC Announces Regional Partnerships With Top Crypto-Only Sportsbook
06:04
Ethereum Liquidity Mining Of Alpha Finance To Be Extended To April 11
04:06
Loopring CEO: We Will Never Get Involved In NFT
03:42
StaFi announced, "rETH Staking Pool and #rETH/#ETH #Uniswap LP farming is coming very soon."
03:31
Rapper Soulja Boy Mints His Tweet To An NFT Through Valuables
03:16
Crust Maxwell Decentralized Storage Market To Undergo Several Upgrades In Mid-March
03:13
CoinNess Market Surveillance Mar. 8: BTC Trading Above $50000 Level
02:56
Armor.Fi tweeted, "Based on feedback from the $ARMOR community, we recently extended the Armor rewards program from 24 weeks to 2 year."
02:54
Big Data Protocol Alliance Adds Another Data Provider, Collaborative Stock Trading App, ClosingBell
02:30
BTC Drops by 1.14% Within 5 Mins, Marking 50,711.69 USDT
02:30
Curve Proposes To List 5 New Pools
02:08
yearn.finance Launches Yearn Partners Program
02:03
Ethernity Chain To Postpones NFT Sale Of Boss Logic
02:00
BTC Tops List Of Crypto Net Outflow With $128.11 Mln In Past 10 Hours
01:55
Data Summary Of Boboo.com's Perpetual Contract: Mar 6
Mar 7, 2021 (Sunday)
14:16
BTC Drops by 1.03% Within 5 Mins, Marking 50,644.69 USDT
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft