| Ugandans have lost about $1 billion, or almost 4 percent of the country’s GDP, in the past two years. That's more than any other nation. A series of large cryptocurrency scams is rocking Uganda, turning the East African nation into an unlikely hub for fraudulent firms claiming to offer digital currencies, while preying on weak governance and low financial literacy. Other major cryptocurrency scams in 2019 involved developed economies like Japan, the U.K. and the Netherlands. But Uganda is the worst hit — by far. At least five cryptocurrency firms have closed shop and walked away with a total of more than $26 million of their clients’ money in the past six months. From students and churchgoers to army officers and government officials, the victims span Ugandan society — costing some 200,000 Ugandans a total of about $1 billion, or almost 4 percent of the country’s GDP, over the past two years. | 
