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Jun 4, 08:22 PM
Crypto Scams Target Real Estate Agents Amid Kenyan Diaspora Losses and Britain’s Under-Regulated Housing Market
Kenya
Real Estate
Hacks
Business
Crypto
World

Crypto Scams Target Real Estate Agents Amid Kenyan Diaspora Losses and Britain’s Under-Regulated Housing Market

Authors
  • NTV Kenya
  • Daily Nation
  • The New Statesman
5

Scammers impersonating wealthy homebuyers have been targeting real estate agents, involving them in complex cryptocurrency investment schemes that have led some agents to lose their life savings. These fraudulent activities have attracted the attention of the U.S. Secret Service. In Kenya, real estate scams are also affecting the diaspora, with millions lost to rogue land and property firms. The broader housing market faces criticism for being under-regulated, contributing to challenges such as inflated home prices and unsafe properties, particularly in Britain where many buyers remain trapped in worthless new-build homes with ongoing issues. Experts advise caution in the current market environment, highlighting the risks for both buyers and agents.

Written with ChatGPT (GPT-4).

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