Kenyan businessman just got rekt for ~$800k in stablecoins
Classic setup: fraudster introduces a "British crypto expert" who supposedly knows how to use stablecoins for currency conversions. Victim trusted the wrong people, funds gone.
This is why you never let someone else touch your keys. No matter how "expert" they claim to be. No matter what conversion rates they promise.
Stablecoins aren't the problem here—it's operational security and trust assumptions. If you're moving serious capital in crypto, you need to understand the rails yourself or work with verified, audited entities.
$800k lesson: Your keys, your coins. Someone else's keys, someone else's coins.
Classic setup: fraudster introduces a "British crypto expert" who supposedly knows how to use stablecoins for currency conversions. Victim trusted the wrong people, funds gone.
This is why you never let someone else touch your keys. No matter how "expert" they claim to be. No matter what conversion rates they promise.
Stablecoins aren't the problem here—it's operational security and trust assumptions. If you're moving serious capital in crypto, you need to understand the rails yourself or work with verified, audited entities.
$800k lesson: Your keys, your coins. Someone else's keys, someone else's coins.