{"id":73780,"date":"2023-10-17T21:24:42","date_gmt":"2023-10-18T01:24:42","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/crypto-rug-pull-stuns-central-african-republic\/"},"modified":"2023-10-17T21:24:46","modified_gmt":"2023-10-18T01:24:46","slug":"crypto-rug-pull-stuns-central-african-republic","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73780","title":{"rendered":"\u2018Crypto Rug Pull\u2019 Stuns Central African Republic"},"content":{"rendered":"
\n

Police in the Central African Republic suspect a rug pull after the operators of a crypto firm \u201cvanished overnight.\u201d<\/p>\n

The news outlet RFI reported that the Research and Investigation Section (SRI) of the National Gendarmerie (the CAR\u2019s police force) have \u201claunched an investigation\u201d into the firm.<\/p>\n

Prosecutors have also launched a separate investigation into the firm, whose operators \u2013 investors say \u2013 have disappeared without a trace, taking their money with them.<\/p>\n

The company is named Cl\u00e9 du Succ\u00e8s (\u201ckey to success\u201d).<\/p>\n

Per an earlier report from Radio Ndekeluka, the nation\u2019s finance ministry confirmed that the Cl\u00e9 du Succ\u00e8s company has registered with authorities and was this year issued with a tax identification number.<\/p>\n

The firm reportedly gathered investment from \u201chundreds\u201d of CAR residents.<\/p>\n

Disgruntled investors were photographed outside an apparently abandoned Cl\u00e9 du Succ\u00e8s office on October 11.<\/p>\n

Cl\u00e9 du Succ\u00e8s marketing material features coins emblazoned with the Bitcoin (BTC) logo.<\/p>\n

RFI noted that the company is \u201cmanaged by Cameroonian and Nigerian entrepreneurs.\u201d<\/p>\n

The media outlet added that the firm \u201cpromised its clients they could earn [gains of] 20% on their investments.\u201d<\/p>\n

Some investors are thought to have handed over their life savings to Cl\u00e9 du Succ\u00e8s.<\/p>\n

The firm launched its operations in Bangui in September 2023, and spent \u201cweeks aggressively campaigning in the capital and its surroundings,\u201d attracting \u201chundreds of Central Africans.\u201d<\/p>\n

But after \u201crumors\u201d of an \u201carmed attack\u201d 17km outside the capital on October 8, the firm\u2019s operators allegedly \u201cdisappeared overnight without a trace.\u201d<\/p>\n

The individuals appear to have taken \u201cseveral hundred million CFA francs\u201d of investors\u2019 stake money with them.<\/p>\n

Corbeaunews reported that the scale of the losses at \u201cover a billion CFA francs\u201d \u2013 over $1.6 million.<\/p>\n

Central African Republic: Crypto \u2018Rug Pull\u2019 Claims High-profile Victims?<\/h2>\n

The media outlet claimed that the long list of Cl\u00e9 du Succ\u00e8s investors includes \u201clawmakers, senior civil servants, traders, and craftspeople.\u201d<\/p>\n

The firm\u2019s \u201cdoors have been closed\u201d for over a week, RFI reported, with both the company\u2019s staff and customers \u201cplunged into deep uncertainty.\u201d<\/p>\n

Last year, the CAR government announced it had adopted BTC and other coins as legal tender, following in the footsteps of El Salvador.<\/p>\n

Less than a year later, however, the nation\u2019s parliament repealed the same legislation.<\/p>\n

Observers think the CAR government may have been pressured into the decision by the Economic and Monetary Community of Central Africa, a six-state economic union that includes CAR, as well as Gabon, Cameroon, Chad, the Republic of the Congo, and Equatorial Guinea.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Police in the Central African Republic suspect a rug pull after the operators of a crypto firm \u201cvanished overnight.\u201d The news outlet RFI reported that the Research and Investigation Section (SRI) of the National Gendarmerie (the CAR\u2019s police force) have \u201claunched an investigation\u201d into the firm. Prosecutors have also launched a separate investigation into the […]<\/p>\n","protected":false},"author":1,"featured_media":73781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-73780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\n\u2018Crypto Rug Pull\u2019 Stuns Central African Republic | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Police in the Central African Republic suspect a rug pull after the operators of a crypto firm \u201cvanished overnight.\u201dThe news outlet RFI reported that the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=73780\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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