news 19 August 2026 Daily Monitor (Uganda)
Police Investigate 'Hut 8' Online Investment Scam Amidst Investor Losses
Ugandan police are investigating a suspected online investment fraud operating under the name Hut 8, after numerous investors reported being unable to withdraw their funds. The legitimate US-based company Hut 8 has disavowed any connection to the platform. Source: https://www.monitor.co.ug/uganda/news/national/police-probe-alleged-hut-8-online-investment-fraud-as-investors-face-withdrawal-losses-5562938
The Uganda Police Force has initiated an investigation into an online platform known as Hut 8, which is allegedly defrauding investors. This action comes after multiple reports surfaced on social media detailing how individuals were persuaded to deposit money with promises of substantial returns, only to find their funds inaccessible.
Police spokesperson ACP Rusoke Kituuma confirmed that authorities are aware of the platform’s activities in Uganda. While no formal complaints have been lodged yet, the police are actively gathering information to understand the scope of the alleged scam and identify those responsible.
Adding to the confusion, the legitimate Hut 8 Corporation, a US-based digital infrastructure and Bitcoin mining company, has officially stated that it has no operations, representatives, or investment schemes soliciting funds in Uganda. This clarification from the real Hut 8 Corporation is crucial for distinguishing it from the fraudulent entity.
Preliminary findings suggest that the fraudsters primarily used social media to target victims, enticing them with promises of high yields on their investments. Victims were allegedly lured into depositing cash, only to face difficulties when attempting to withdraw their earnings.
Police are urging anyone affected by the alleged Hut 8 scam to come forward and file official reports at the nearest police station. They should provide any supporting evidence, such as transaction records, contact details of recruiters, and screenshots of communications. Authorities also issued a stern warning against paying additional money to individuals who claim they can help recover lost funds, as this could be another layer of the scam.
This investigation into Hut 8 follows a pattern of similar online investment scams that have previously targeted Ugandans, leading to significant financial losses for many.