Singer Seun Kuti has criticized cryptocurrency enthusiasts after revealing that his sister allegedly lost over ₦50 million in a failed crypto investment.
In a social media post, the Afrobeat musician slammed crypto supporters, calling the industry a scheme that exploits poor people.
“Criminals trying to steal from the poor. Crypto is nothing but wealth transfer from the poorest people to the pockets of the richest, just like gambling. There’s no freedom in crypto. More African people have lost money to this than made money from it. Should I tell you how much my sister has lost to crypto? My sister, my own blood sister, has lost over fifty million. Many Nigerians will lose millions. You people keep lying to Africans,” he said.
Seun Kuti, known for his strong opinions on social and political matters, did not share full details about how his sister lost the money.
However, his statement highlights the risks associated with cryptocurrency investments, which can be highly volatile and unpredictable.
His comments have sparked debates online, with some agreeing that crypto has led to losses for many Nigerians, while others argue that it remains a profitable investment for those who understand how it works.
