Category: Africrypt Ponzi scheme


South Africa Bitcoin Heist: Court Grants Liquidators Authority to Track Missing Africrypt Investor Funds


A South African court has granted liquidators of the collapsed bitcoin investment firm Africrypt the powers to track down missing investor funds. Also, as part of the court decision, Africrypt liquidators will now have the authority to sell assets and property belonging to the company. Africrypt’s Evidence Under the Microscope According to a report, the […]


Africrypt Bitcoin Heist: Contradicting Reports About the Directors Whereabouts Surface


In a new twist to the Africrypt saga, two different reports have made contradicting claims about the whereabouts of Raees and Ameer Cajee, the two directors of the collapse bitcoin investment firm. However, both reports suggest the Cajees brothers had planned their escape prior to the alleged hacking incident in April. Vanuatu or Tanzania In […]


South African Regulators Reportedly Fast-Tracking Crypto Regulatory Framework


With South Africa receiving more than its fair share of cryptocurrency-related scams, a report suggests that regulators are responding to this challenge by fast-tracking the process of creating a new regulatory framework. As a result, regulators now expect this process, which was preceded “by the publication of proposals earlier in June,” to be complete “in […]


Africrypt Directors Deny Allegations They Fleeced Clients as Doubts Over Actual Value Missing Bitcoins Grows


Africrypt Directors Deny Allegations They Fleeced Clients as Doubts Over Actual Value Missing Bitcoins GrowsAccording to new reports, Raees and Ameer Cajee, the two young directors of the recently collapsed crypto investment firm, Africrypt, have “categorically denied” allegations they fleeced clients. Instead, the brothers insist their company is the victim of a hack while also claiming that the media may be overestimating the value of the missing bitcoins. These […]


Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’


Following Africrypt’s collapse, South African regulator, the Financial Sector Conduct Authority (FSCA), released a statement asserting its lack of jurisdiction over cryptocurrencies. Although the regulator says it is “continuing to investigate complaints” against the crypto investment company, it concedes it has only “found evidence of crypto-asset transactions.” A Large Number of Scams While the FSCA […]


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