KAMPALA — Police have warned members of the public about an online investment platform operating in Uganda under the name “Hut 8”, following complaints that some investors are unable to access their accounts or withdraw their money.
According to Police, preliminary information indicates that individuals were allegedly lured through social media platforms to deposit money with promises of attractive returns.
Some of those who invested are now reportedly experiencing difficulties accessing their accounts or recovering their funds.
Police, however, said no formal complaints had been received at the time of the statement, while clarifying that the legitimate Hut 8 Corporation has publicly distanced itself from investment solicitations being made in Uganda.
The company has reportedly stated on its X account that it has no authorised representatives or investment operations soliciting funds in Uganda.
The Uganda Police Force said it is working with relevant regulatory and financial-sector agencies to establish the circumstances surrounding the activities, identify the individuals or entities behind them and take appropriate legal action.
Police have urged anyone who may have been affected to report to the nearest Police station and provide evidence that could assist investigations.
Such evidence may include payment records, mobile-money and bank transaction references, telephone numbers, social-media accounts, online links, screenshots, chat messages and details of individuals who recruited or promoted the platform.
The public has also been warned against paying additional money to individuals claiming they can facilitate withdrawals or unlock blocked accounts.
Police further cautioned victims against so-called fund recovery agents who demand upfront payments to recover lost money, noting that such approaches could amount to another form of fraud.
The Police Force said further updates will be provided as investigations into the matter progress.
