Some customers of a cryptocurrency company known as Global Coin have complained of their locked up money with the company. They said they have not heard from the company since September 2018.

According to them, they had the information that the head of the company was questioned as the Security and Exchange Commission, SEC, visited the office located at Nsawam and hence have not known the where about of the executives.

This information was made known in interview with Ibrahim Kwarteng on GBC’s Current Affairs Programme, ‘BEHIND THE NEWS’.

A customer disclosed that he heard of the company on a radio station that he does not want to reveal and afterwards, attended a seminar organised by the company.

He said in the meeting as the Public Relations Officer spoke, he was not conversant with the system but, after further explanations he got convinced.

One customer said he personally introduced 13 other people, as another also said he introduced about 500 people from his company of which they have all invested huge sums of money.

He added that they have all not been able to redraw any amount of money from the company and are pleading on government to intervene.

BACKGROUND

Crypto currency is a digital or virtual currency designed to work as a medium of exchange that uses strong cryptography (the art of writing or solving codes) to secure financial transactions, and verify the transfer of assets.
It is a kind of alternative currency in a digital form.

This implies that physical cash are not needed for monitory transactions.

Story By: Nhyira Kwabi

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