Afrobeat singer Seun Kuti has expressed his disappointment in crypto trading after his sister allegedly lost over N50 million.

In a post shared on his social media page, Seun Kuti described the crypto market as a scam following the incident involving his sister.

Expressing his frustration and disbelief, Seun Kuti lamented the impact of cryptocurrency on ordinary Nigerians.

He called out cryptocurrency promoters, calling them “criminals” who exploit vulnerable individuals, especially the poor.

Kuti 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.”