Nigerian singer Seun Kuti has ignited controversy online after disclosing that his sister lost over ₦50 million to cryptocurrency. In a viral video circulating on X (formerly Twitter), Kuti strongly criticized cryptocurrency, calling it a scam designed to exploit the poor. He accused crypto promoters of orchestrating a massive wealth transfer from struggling individuals to the wealthy, likening it to gambling.
“Crypto is a lie. You people are criminals stealing from the poor. It’s just another scheme to shift wealth from the poorest to the richest, just like gambling,” he declared.
Expressing frustration over his sister’s financial loss, Kuti lamented, “I’ve been warning her, but she didn’t listen. My own blood sister lost over ₦50 million. Do you know how many Nigerians have lost millions to this?”
His remarks have sparked widespread debate, with social media users divided over the risks and realities of cryptocurrency investments.
