Greetings to my esteemed hive family. It's a beautiful day and a time to thank God for His goodness and gift of waking up. It's a new day and a time to see that your dreams are prioritized. Today, I'll talking about a something that happens in the crypto world and how some countries also contribute to crypto and cyber fraud. It's your friend @faquan, saying hello from this part of the world.
For us her in Nigeria that has crypto ban for over 5 years, it's been from one challenge to another in the process of transacting crypto. Since crypto is a band in the country, most crypto transactions are through P2P and this has affected some traders and many have lost their hard earned money.
A particular case relating to crypto fraud that has lasted for about 4 years now between two Nigerians is yet to be resolved and the lingering incident has kept me thinking for days.
By the time Salisu Abdul-Hamid hit the send button on May 13, 2021, it was already a zero too many. Instead of N240,000, he had sent N2.4 million to Stephen Chikodi Ibechukwu. At the time, Abdul-Hamid was juggling peer-to-peer trading with education at the Kogi State University to make ends meet. He mostly acted as a go-between for Chinese clients who needed to pay Nigerian workers in cash. Luckily, the recipient was not a stranger. Abdul-Hamid had traded with Ibechukwu before and could easily reach him. He also did not waste any time reporting the error to Kuda Bank. But that speed and awareness did not help him when it mattered. Ibechukwu, the man at the receiving end, refused to refund the money. Desperate, Abdul-Hamid even offered to let him keep a portion of it.
This particular case is very pitiful because up till date the case is yet to be resolved between the sender and the bank as well as the receiver. Mind you we're talking about N2.4M. the sender was to send N240,000. The nation isn't finding it easy on this dwindling economy.
No one is safe this days when it comes to crypto fraud, although many advanced countries has a way of retrieving money from fraudster. This is what we face in nations such as ours.
What's your take on this kind of issues?
Thank you for reading my post.
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