The Capital Markets Authority (CMA) has warned the public against trading in any coin exchange offered by Wiseman Talent Ventures.

In a statement, CMA Chief Executive Paul Muthaura, said the firm was under investigation after the Authority found discrepancies in the information shared on the firm’s website and the information provided during interviews with the firm’s leadership in relation to the total number of Kenicoin sold and the total funds raised.

“It is important for the general public to note that the nature and features of the capital raising and coins trading promoted by Wiseman Talent Ventures is taking the form of regulated activities which have not yet been approved by the Authority,” said Mr. Muthaura.

The Authority noted that the firm promised guaranteed returns of 10 per cent monthly on the initial investment in coins which were issued at Sh100 at the Initial Coin Offering (ICO) and are currently purportedly being marketed as trading at Sh2,000 at its coin exchange.