Cryptocurrency

Africrypt: South African Brothers Vanish With $3.6 Billion in World’s Largest

Africrypt: South African Brothers Vanish With $3.6 Billion in World’s Largest

Africrypt: South African Brothers Vanish With $3.6 Billion in World’s Largest Cryptocurrency Scam

  • Two South African brothers have carted away with investors money worth $3.6 billion in the world’s largest cryptocurrency scam
  • The brothers who were the founders of cryptocurrency investment platform, Africypt have gone into hiding
  • The company’s website is down and efforts to reach both brothers have proven to be futile

Two South African brothers have escaped with $3.6 billion, in what is the world’s largest crypto and Bitcoin scam.

Ameer Cajee and Raees Cajee, are Chief Operating Officer (COO) and Chief Executive Officer (CEO) of Africrypt, Johannesburg based crypto exchange.

Bitcoin Scam

Africrypt provided opportunities in crypto exchange and blockchain to investors in South Africa.

How it began

In April, Africrypt COO Ameer Cajee informed customers that the company suffered a hack and urged them not to report to law enforcement to avoid slowing down the process of recovering the funds.

Some investors did not believe these claims and hired a law firm, Hanekom Attorneys.

The law firm reported back that the brothers could not be found, causing the matter to be escalated to the Hawks, a special unit of South Africa’s police force.

Various exchanges have been alerted to be wary of any attempt to convert the cryptocurrency into cash.

Africrypt

Employees of the exchange lost access to the backend a week before the alleged hack and funds were transferred from the company’s South African accounts through mixers to make them difficult to trace.

Read also: Bitcoin Seems Like a Scam- Donald Trump

Attempts to reach the brothers have proven to be futile while the website has been taken down.

A total of 69,000 coins were lost at the point when Bitcoin was trading at an all-time high above $60,000.

The estimated $4 billion loss would make it the largest single cryptocurrency or Bitcoin scam.

Follow Naija.fm on our social media handles FacebookInstagram, and Twitter to keep up with trending news, breaking news, entertainment news.

Show More

Related Articles

Back to top button