SDA Church Probes Crypto Platform After Members Lose Millions
The Seventh-day Adventist Church in East Africa has launched a formal inquiry into the collapse of Optcoin, a cryptocurrency and forex trading platform that left members facing heavy financial losses.
The investigation follows the platform’s sudden disappearance and allegations that senior church leaders promoted it to worshippers.
The probe was announced by the East and Central Africa Division (ECD) after reports that Kenyan investors lost millions of shillings in the scheme.
Optcoin had been marketed within church circles, raising concerns about the involvement of clergy in promoting unregulated financial ventures. At the centre of the matter is Pastor Paul Mwangi, a former president of the Central Kenya Conference and later executive secretary of the East Kenya Union Conference.
Mwangi has acknowledged that he invested in Optcoin and suffered significant losses. He also admitted encouraging fellow Adventists to join after he was appointed the platform’s regional director for Kenya.
His role has prompted questions about the conduct of church leaders, particularly in light of an ECD directive issued in late 2025 warning ministers against involvement in unethical or fraudulent investment activities. The directive had cautioned clergy against endorsing financial schemes that could harm members.
The commission will sit at the ECD headquarters in Ongata Rongai. Proceedings begin with an orientation session on 2 March 2026. Testimonies relating to Optcoin will be heard on 3 March.
On 4 March, the commission will examine issues concerning the Central Rift Valley Conference, where 19 pastors were dismissed over alleged misconduct and the formation of a breakaway group. Deliberations are scheduled for 5 March, with recommendations expected to be drafted on 6 March.
Submissions must be made in writing, signed and supported by evidence. Selected representatives will also be allowed to make oral presentations.
