The Uganda Police Force has warned members of the public against an online investment platform operating in Uganda under the name “Hut 8”, following reports that individuals were lured through social media to deposit money in exchange for promised returns.
In a statement issued on Tuesday, Police said some people who invested through the platform are now reportedly unable to access their accounts or withdraw their money.
Police, however, said no formal complaints had been filed with the force at the time of the statement, and urged anyone affected to come forward with evidence to assist investigations.
The warning is particularly significant because the name being used by the platform belongs to a legitimate Canadian company, Hut 8 Corporation, a publicly listed company involved in bitcoin mining and, increasingly, artificial-intelligence data-centre infrastructure.
Police said the legitimate Hut 8 Corporation has disassociated itself from the investment solicitations in Uganda, saying it has no authorised representatives or investment operations soliciting funds in the country.
A review of Hut 8’s official website shows that the company provides investor information through its corporate channels and identifies its headquarters in Miami, Florida. Its published 2026 activities centre on data-centre infrastructure and related financing rather than an online investment scheme targeting Ugandan depositors.
The company has also reported major investments in AI data-centre projects, including a $4.25 billion financing for its Beacon Point project in June 2026.
Police seek evidence
Police said investigators are working with relevant regulatory and financial-sector agencies to establish the circumstances surrounding the alleged scheme and identify the individuals or entities behind it.
Affected persons have been asked to report to the nearest police station with evidence including: Mobile-money and bank transaction records; Payment references; Telephone numbers used by recruiters; Social-media accounts and links; Screenshots of investment platforms; Chat messages; and Details of individuals who promoted or recruited them into the scheme.
Police also issued a warning to people who may have lost money against making further payments.
“The public is further advised not to pay any additional fees to persons claiming to facilitate withdrawals or unlock accounts,” the force said.
It also warned that people claiming to recover lost investments in exchange for an upfront payment could themselves be attempting to defraud victims.
The Police statement comes as Hut 8 continues to operate as a major publicly traded technology company. Its latest financial disclosures show the company had 949 megawatts of contracted IT capacity across its AI data-centre portfolio and had secured $7.5 billion in investment-grade project financing by August 2026.
Police said further updates will be issued as investigations progress.
