Rume Ophi, an expert in alternative finance and cryptocurrency, has cautioned Nigerians against being influenced by celebrity endorsements or promises of quick wealth.
In a statement shared with our correspondent, Ophi, widely recognized as the Cryptopreacher, advised, “While cryptocurrency offers great potential, it also comes with substantial risks if not approached carefully.
The current market situation is very troubling.”
He issued this warning following the recent collapse of $Jota Coin, explaining: “The coin’s value has drastically fallen from its initial hard cap of over a hundred thousand.
More concerning, our findings reveal that the project initiators withdrew liquidity within 30 minutes of the launch via the contact address.”
This is not the first time Ophi has sounded the alarm about dubious cryptocurrency projects.
As the Cryptopreacher, he has built a reputation for spotting potential scams before they fully unfold. “We’ve seen this pattern before,” he reminded the public.
He also referenced the involvement of the SEC, which previously warned Nigerians to avoid such tokens. “History is repeating itself once again,” he said.
Ophi compared the situation to recent events in the U.S., where celebrities were heavily fined for promoting cryptocurrency projects without proper disclosures.
“The Kardashians found themselves in similar situations and had to pay millions in fines. Nigerian celebrities should be very cautious about what they endorse in the cryptocurrency space.”
