ALERT: Currency exchange agency declared ‘fraudulent’ by Bank of Ghana


The Bank of Ghana says a money doubling scheme operating under the name “BitCash Currency Exchange” and falsely claiming to have approval from the Bank, is fraudulent.

According to the Bank of Ghana, neither has it licensed the entity or any other cryptocurrency exchange platform, nor approved of its operations.

“This fraudulent scheme does not reward investors as promised. Unsuspecting recipients of such messages who click on the hyperlink or forward such messages compromise the safety of their funds, their WhatsApp accounts and other social media profiles, as well as those of friends and family on their contact list,” the Bank said.


The BoG encouraged the general public not to engage in such activities but to report such illegal activities and illegal operators using the following contacts:

Financial Stability Department
Bank of Ghana
Cedi House
1 Thorpe Road
P. O. Box 2674
Accra, Ghana

Tel.: 030 266 5005; 059 691 2354; 050 150 2270

Email: [email protected]

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