On Friday 16th October 2026 the Capital Markets Authority (CMA) asked the public for the crypto wallet addresses and transaction records tied to QVSE and Global Investment Group, two platforms it calls unregulated entities. The CMA is investigating them with the Capital Markets Fraud Investigations Unit (CMFIU), a unit of the Kenya Police based at the CMA offices that investigates securities fraud.

A wallet address is the string of characters that works like an account number on a blockchain, and a transaction hash is the unique ID of one transfer, which lets investigators follow money from wallet to wallet. The CMA wants any of either that relate to suspected fraud or to suspicious transfers by the two entities. People can email complaints@cma.or.ke, use the CMA’s whistleblower portal or scan the QR code on the notice.

The notice does not say how cryptocurrency came into the case. It also leaves out how many people lost money, how much, and whether any wallets are already known. Last month we found that QVSE presents itself as a stock exchange regulated by the SEC and FINRA, the US securities regulator and its industry watchdog. Its only US registration covers money services such as cashing cheques and moving money, and the platform asked new members for at least KES 65,000, with daily returns promised on shares in Apple, Tesla and Nvidia. Since 4th September, users trying to withdraw have seen a notice citing the USA PATRIOT Act and a FINRA rule that covers FINRA member firms, which QVSE is not. A call for wallet addresses points to money having moved through crypto. That is our reading, and the CMA does not say it.

The CMA first named both platforms last month, among 15 it said were operating without a licence, and that notice said the Directorate of Criminal Investigations was looking into them with the CMA. Two women have since been charged at Milimani Law Courts in Nairobi with running an unlicensed collective investment scheme and fraudulently inducing trading in securities. They pleaded not guilty and were released on a KES 200,000 bond each. The charge sheet names QVSE and Global Investment Group together and says the two women acted with others not before court.

The new notice appears aimed at those others and at the money. Coming five weeks after the CMA first named the platforms, and after the charges, it suggests investigators are still tracing where the funds went and want victims’ own records to do it. Anyone who paid in should keep the wallet addresses, transaction IDs, screenshots and dates they have. Before putting money into any platform, the CMA advises checking its licensee register.

Crypto platforms serving Kenyans face their own date. Under the Virtual Asset Service Providers Act, the transition period ends on 4th November 2026, two weeks from today, and any provider still unlicensed with the CMA or the Central Bank of Kenya after that is operating without permission.