Ghanaians lost more than GHS 65,860 to fraudulent online investment schemes in the first 29 days of 2025, according to the Cyber Security Authority (CSA).
The scams, largely operating through social media, entice victims with promises of high returns but leave them with significant financial losses.
The CSA reported at least ten cases so far, with fraudsters falsely claiming to be subsidiaries of well-known foreign companies, including the Canada-based Hut 8 Corporation, to gain credibility.
The schemes rely on targeted social media advertisements, persuading victims to invest in supposed cryptocurrency mining equipment leases or online business ventures.
However, once funds are transferred, victims neither receive the promised returns nor recover their initial investments.
“To evade detection, scammers frequently rebrand under new names, including M.F.A., Sunnovagh, Iseetv, Okmarket, and Phoenix,” the CSA statement noted.
In response, the CSA has urged the public to exercise caution when engaging with online investment platforms offering unusually high returns.
It advises individuals to verify opportunities through official regulatory bodies and avoid unsolicited messages or WhatsApp groups claiming affiliation with reputable organizations.
