Some of you might have heard of this investment firm Africrypt collapse – a situation that allegedly cost people 3,6 billion worth of Bitcoin in loss!
It would have been the biggest crypto scam in the world!
Imagine – 2 brothers of only 18-20 years old, the founding directors of the firm disappearing from all the radars together with 3,6 billion worth of BTC…
Although the new information suggests that this number has been a bit exaggerated…
Lots of investors trusted their savings to Africrypt considering Raees and Ameer Cajee extremely smart and successful for being that young, at first,……while being promised unrealistic and “too-good-to-be-true” returns on their investment.
According to new reports, brothers, have “categorically denied” all the allegations that they stole money and ran away…. insisting that their company is the victim of a hack and claimed that the media may be overestimating the value of the missing bitcoins.
By the way, these guys were “hacked” not for the first time!
Not the first time They had to write to their clients that all their money has been lost/stolen due to the hack, which of course is none of their faults…
Africrypts lawyer says that they have “very little life experience.” As a result, when they started receiving death threats, their “first reaction was to keep themselves and their families safe.”
And since digital currencies are not a regulated asset class in South Africa at all – there might not even be an official investigation!
Do you believe it was a hack and Africrypt is a victim? Or this whole thing is a fraud, Ponzi scheme, and guys are bad scammers?