The Uganda Police Force has opened the door for complaints from Ugandans who may have lost money through an online investment platform operating under the name Hut 8, amid allegations that investors were lured through social media with promises of returns before encountering difficulties withdrawing their money.
In a statement issued on Tuesday, August 18, 2026, Police said it had taken note of complaints circulating about the platform and was working with relevant regulatory and financial sector agencies to establish the circumstances surrounding the operations.
“Preliminary information indicates that individuals were allegedly lured through social media platforms to deposit money with the promise of returns. Some of those who invested are now reportedly experiencing difficulties accessing their accounts or withdrawing their funds,” Police said.
Police, however, stressed that no formal complaints had been received at the time of issuing the statement, meaning the full scale of the alleged losses and the number of affected Ugandans had not yet been established.
The force also drew an important distinction between the platform being promoted to Ugandans and the legitimate Hut 8 Corporation, a publicly traded North American company involved in digital infrastructure, including bitcoin mining and artificial intelligence data centres.
According to Police, the legitimate company has publicly disassociated itself from the investment solicitations being made in Uganda.
“The legitimate Hut 8 Corporation has publicly disassociated itself from the alleged investment solicitations in Uganda. The company has stated on its X account that it has no authorised representatives or investment operations soliciting funds in Uganda,” Police said.
The warning is crucial because the genuine Hut 8 Corporation maintains an established corporate and investor presence, including its listing on Nasdaq under the ticker HUT, while its official website lists its corporate operations and investor information. Its recent announcements have focused on large scale data centre projects and financing rather than the type of retail investment packages being promoted through social media in Uganda.
Police said it is now working with relevant agencies to identify the individuals or entities behind the Ugandan platform and determine whether criminal offences were committed.
“The Uganda Police Force, working together with relevant regulatory and financial-sector agencies, is ready to receive complaints and any available information to establish the full circumstances surrounding these activities, identify the individuals or entities involved, and take appropriate action in accordance with the law,” the statement said.
Police urged people who deposited money with the platform to report to the nearest police station and preserve all evidence that could assist investigators.
Victims have been asked to provide payment records, mobile money and bank transaction references, telephone numbers, social media accounts, online links, screenshots, chat messages and details of people who recruited them or promoted the platform.
The force also issued a warning against a second layer of fraud that often emerges after an investment scheme collapses.
“The public is further advised not to pay any additional fees to persons claiming to facilitate withdrawals or unlock accounts,” Police said.
“Victims should also exercise caution when approached by individuals claiming they can recover lost funds in exchange for an upfront payment, as this may constitute another form of fraud.”
The warning comes against a wider background of investment and pyramid schemes that have repeatedly targeted Ugandans through online platforms.
In December 2023, Police warned the public after its Directorate of Criminal Investigations began investigating Capital Chicken Limited, where victims were allegedly defrauded of about Shs5 billion after being promised returns of between 40 and 60 percent through an online investment contract. Police said the company was being investigated for allegedly operating fund management and investment advisory businesses without the required licences and for obtaining money by false pretences.
At the time, Police also named several other schemes under investigation, including Veta Plan, Mall Fund, Great Wealth Youth Platform Africa, Cashmulla, Pio Crypto, Premium Clusters, Contract Kapital and Pacs Capital Limited.
Police said some of the schemes followed a familiar pattern: attracting members with unusually attractive returns, encouraging recruitment of new investors and later freezing accounts or making withdrawals impossible.
The Uganda National Computer Emergency Response Team, CERT.UG, has similarly warned that fraudulent pyramid schemes often operate primarily through websites and social media, promise quick financial gains and rely heavily on recruiting new members.
CERT.UG has previously cited TelexFree and AdFast among fraudulent pyramid schemes in which Ugandans lost money, warning that schemes dependent on continuous recruitment carry a high risk of financial loss.
The Financial Intelligence Authority has also continued to warn Ugandans about Ponzi and pyramid schemes, saying fraudulent operators exploit difficult economic conditions to target people’s savings through false investment opportunities.
The authority warns the public to be particularly suspicious of schemes that promise unusually high or quick returns, make it difficult to receive payments, place greater emphasis on recruiting new members than on genuine products or services, or require participants to pay fees before receiving promised benefits.
Uganda’s growing exposure to online financial scams is also reflected in a recent national risk assessment on virtual assets and virtual asset service providers. The assessment identified fraudulent investment programmes, including fake virtual asset trading ventures and pyramid-style schemes, as a risk in Uganda. It cited blockchain analysis identifying approximately US$3.17 million in inflows and US$5.82 million in outflows linked to scam services associated with Uganda.
The Hut 8 complaints therefore come as authorities continue to grapple with schemes that increasingly use WhatsApp, Telegram, TikTok, Facebook and other digital platforms to reach potential investors.
Police have urged members of the public not to judge the legitimacy of an investment opportunity by its branding, professional-looking website, social media following or claims of successful withdrawals by other users.
Instead, prospective investors are being encouraged to establish who is operating the platform, where the company is physically based, whether it is licensed to solicit investments in Uganda and whether the entity being promoted is genuinely connected to the company whose name and branding it uses.
For people who may already have invested in the alleged Hut 8 platform, Police said the priority should be preserving evidence and making a formal report rather than sending additional money in an attempt to recover funds.
Police said further updates will be issued as investigations progress.
The developments also serve as another warning that the use of the name of a genuine international company does not, by itself, prove that an online investment platform is authorised or connected to that company.
The official Hut 8 website identifies the corporation as a Nasdaq-listed company and provides its corporate and investor information through its official channels.
