Seun Kuti blasts cryptocurrency as sister allegedly loses ₦50 million in the scheme

Seun Kuti, a Nigerian singer, has set the internet ablaze after revealing that his sister lost over ₦50 million in cryptocurrency.

The revelation came in a video that has since gone viral on X (formerly Twitter).

In the video, Kuti passionately voiced his frustrations, condemning cryptocurrency as a scam and accusing its promoters of exploiting the poor.

He described it as a scheme that transfers wealth from the poorest to the richest, likening it to gambling.

He said: “Crypto is a lie. You people are criminals trying to steal from poor people. It’s nothing but a wealth transfer from the poorest to the richest, just like gambling.”

“You all promote it, you push it, but it’s all about wealth transfer. You’re all part of this plan to shift wealth from the poor to the pockets of the rich.”

“There’s no freedom in crypto. More Africans have lost money to this than those who have made a profit from it.”

Kuti also shared the personal toll it has taken on his family, saying, “You know how much my sister has lost to crypto. I’ve been warning her, but she didn’t listen. I can’t even tell you how much I’ve lost—over ₦50 million. My sister, my own blood sister—this is how many Nigerians have lost millions.”

The video has sparked a flurry of reactions online, with concerned individuals flooding the comments section to share their thoughts.