The launch of Worldcoin, a global blockchain project backed by Sam Altman, in Kenya has caused chaos as users struggle to cash out their free sign-up bonus tokens due to the lack of a direct cash withdrawal option. The Kenyan government halted the project's rollout over data protection concerns. With no official way to cash out, Kenyan users are resorting to informal crypto trades, creating opportunities for fraud and scams. Informal traders are offering to buy Worldcoin tokens at lower prices than their market value, and some users have fallen victim to scams from fake buyers. Kenya's Capital Markets Authority warned against dealing with unregulated entities, highlighting potential fraudulent schemes. Worldcoin users are turning to social media platforms to find buyers for their tokens, but scams and fraudulent buyers have also emerged. Some users are selling tokens face-to-face to avoid online scams. Despite driving crypto adoption, the chaos of Worldcoin's launch has exposed users to risks from scammers and fraudsters in the informal crypto economy.

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