Over five,000 victims of the alleged cryptocurrency pyramid scheme Dunamiscoins accept petitioned the Ugandan Parliament asking to refund money lost in the scam.

Arthur Asiimwe, the leader of the petitioning group who presented the request to the Parliament's speaker Rebecca Kadaga, claims that the government has licensed the declared scam firm, according to an official announcement by the Parliament of Uganda on Jan. 16.

Dunamiscoins victims are not satisfied with investigation results

Starting time spotted in early Dec 2022, Dunamiscoins is allegedly involved in defrauding over ten,000 people, causing them losses of around $two.7 million. The apparent scam company reportedly closed its offices just a month after opening, stealing money from its investors and employees after previously promising xl% returns on cash investments.

Asiimwe emphasized that the Ugandan regime must be held liable for the Dunamiscoins incident:

"Authorities licensed this company and gave it a become ahead to work as a non-deposit taking financial institution; it carried out its duties as a micro finance company. They gave unrealistic bonuses."

Every bit ii Dunamiscoins directors stood trial in early January, Asiimwe likewise pointed out that 1 of the key individuals backside the scam, Susan Awon, has however remained at large. The group leader expressed dissatisfaction with the status of the investigation, arguing that Ugandan authorities should take farther steps to abort the tertiary director and refund the money.

Reports claim that the Ugandan President endorsed Dunamiscoins

Afterward, Parliament'southward speaker Kadaga promised to appoint with the responsible country regime in guild to solve the issue. According to the official announcement by the Parliament, she said:

"Since yous petitioned the President already, I will talk to him and invite the Minister of Finance, Uganda Micro Finance Regulatory Authority adjacent week so we can forge a way frontwards."

While Dunamiscoins victims apparently charge their government of non taking necessary measures to prevent the scam, some media reports claim that Uganda's President Yoweri Museveni endorsed the firm before. Co-ordinate to local news publication The Independent, the victims told Kadaga that their faith in the visitor was driven by the President'south endorsement aslope constant media adverts.

Meanwhile, Museveni has definitely taken a positive opinion towards both blockchain applied science and cryptocurrencies. Back in 2022, the President met with executives at major global crypto exchange Binance to discuss the developments in the industry.

Cointelegraph has contacted the President'southward representatives for annotate on the declared endorsement of Dunamiscoins merely has not received a response at press time. This article will be updated pending whatsoever new information.