The $3.6 billion in bitcoin from their cryptocurrency investment platform has vanished, along with two African brothers.
Is This The Biggest Bitcoin Scam Ever?
Africrypt is a South African bitcoin investment platform. Ameer Cajee and his brother founded it. For investors, the pool provided enormous rewards.
When BTC was at its peak in April, Chief Operating Officer Cajee revealed that the company had been hacked.
Cajee, on the other hand, advised investors not to seek legal advice since it would hold down the recovery process.
It was an immediate red flag, and several investors retained Hanekom Attorneys to investigate the situation.
According to reports, Africrypt personnel lost access to backend systems a week before Cajee informed investors about the alleged attack.
Hanekom Attorneys discovered that Bitcoin sent from the Africrypt pool was sent using ways that made it difficult to track. Sending the coins to other huge pools or through tumblers and mixers are examples of such ways.
The company’s website is now unavailable. Cajee and his brother, Raees, both have voicemail on their phones. They, along with about 69,000 Bitcoins, have vanished.
The affair is also being investigated by Africa’s Financial Sector Conduct Authority. The group hasn’t been able to initiate a formal investigation because Bitcoin isn’t regarded a legitimate financial asset.
Hanekom Attorneys has now reported the two brothers’ disappearance to the Hawks, an elite group of the police department, according to sources.
The law firm has also notified international cryptocurrency exchanges to report any attempts to sell the stolen Bitcoins.
This isn’t the first time the country has seen something like this. Another firm, Mirror Trading International, was engaged in a case where investors lost $1.2 billion in Bitcoins just last year.
During the month of April, the almost 69,000 Bitcoins stolen in the Africrypt case were valued more than $4 billion. Around three times as much as the 2020 hoax, which was labeled the greatest cryptocurrency scam of the year.
The African brothers scam is possibly the greatest in bitcoin history, and it may prompt countries to take crypto legislation more seriously.
