The verified X.com account of former Kenyan Prime Minister Raila Odinga is currently promoting a new cryptocurrency called “Kenya Token,” sending alarm bells ringing across the country’s tech and crypto communities. A pinned tweet, posted around 12:35 PM EAT on Thursday, features a video of Odinga at a desk and announces a “new digital asset aimed at improving our financial system and supporting economic growth.” We are publishing this story at 5:28pm same day while the tweet is still up.
The post claims, “Kenya is stepping up to lead Africa into the crypto revolution,” and directs followers to a Telegram channel for updates. The token is slated to launch on the Solana blockchain.
For the 4.9 million followers of the prominent political figure, the post might look like a legitimate, forward-thinking endorsement of digital currency. But for anyone who has spent time in the volatile world of cryptocurrency, the announcement is a series of massive, flashing red flags. The consensus is overwhelming: this is almost certainly a scam, and Odinga’s account has likely been compromised or is being used for a paid, malicious promotion.
The backlash was immediate and sharp. Crypto analysts and commentators quickly dissected the post, pointing out that it follows a well-worn script for scams designed to exploit the trust associated with a high-profile, verified account.
In a widely circulated post, user Eric Jackson laid out the typical playbook: “1. Get paid $1-$5M to post this 2. Rug your followers 3. Delete after 24-72hrs 4. Claim ‘hacked’”. He concluded, “Sad that many people will fall for this.”
This formula is a staple of crypto scams. A celebrity or politician’s account is used to generate hype for a new, worthless token. Scammers capitalize on the initial buying frenzy from unsuspecting followers, then abruptly sell off their own massive holdings, crashing the token’s value to zero and making off with the investors’ money. This is commonly known as a “rug pull.”
Local crypto analyst MVRTN, known as @0xNdeto on X, offered a more technical and urgent warning. “NO. Absolutely not!” he posted. “Kenya is just warming up to crypto regulation and this kind of scheme is the last thing we need. Anyone in crypto long enough has seen this countless times.”
He raised critical questions about the token’s legitimacy that the announcement conveniently ignores: “Is it an official government backed CBDC, a stablecoin or just another meme coin on Solana?” A Central Bank Digital Currency (CBDC) would be a monumental government undertaking announced through official channels like the Central Bank of Kenya, not a pinned tweet from a former official. The generic language and launch on Solana – a blockchain notorious for the ease with which new, often fraudulent, tokens can be created – strongly suggest it’s just another low-effort “meme coin.”
“Please save your relatives and friends,” MVRTN warned. “They will loose all their money. They are the exit liquidity to the people behind this coin.”
The term exit liquidity is key here. In this context, it means that the ordinary people who buy the “Kenya Token” based on Odinga’s post are simply providing the real money (likely in the form of SOL, Solana’s native currency) that the scammers will eventually cash out, or “exit” with.
As of this article’s publication, the tweet remains pinned to the top of Raila Odinga’s profile, amplifying its reach and potential to cause financial harm. His communications team has yet to release a statement addressing the post or confirming a hack. This silence, combined with the post’s continued visibility, creates a dangerous window of opportunity for the scammers behind the token.
For now, the message from the crypto-savvy community is clear: stay far away. Official financial instruments are not announced via vague social media posts and Telegram links. This has all the markings of a predatory scheme designed to leverage a trusted name to fleece the public.
Discover more from Techish Kenya
Subscribe to get the latest posts sent to your email.
