The founder of Brother Investment Company disappeared with a record $3.6 billion in Bitcoin
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According to a Bloomberg Report, Raees (20) and Ameer (17) Cajee, the two South African brothers who founded Africrypt, disappeared with $3.6 billion worth of Bitcoin.The so-called scam represents the largest robbery in the history of cryptocurrency, even better than US$2 billion that recently disappeared in Turkey.
As early as April, when Bitcoin skyrocketed, Ameer, the CEO of a cryptocurrency investment company, notified Africrypt investors that the company was reported to have been hacked. He told them not to report the matter to the authorities or their lawyers, as this would only hinder the recovery process.
There are indications that this is internal work. A week before the so-called hacking, Africrypt employees could not access the trading platform. According to reports, the brothers and sisters also fled the country a few days before the hacking. Africrypt’s website was subsequently taken offline, and the Cajee brothers could not access through their mobile phone numbers.
A group of worried investors hired Hanekom Law Firm to investigate the matter. According to the law firm’s investigation, the scammer transferred the pooled funds from Africrypt’s South African account and client’s wallet to the Bitcoin tumbler and mixer. Therefore, the funds are almost impossible to trace.
The South African Financial Sector Conduct Authority (FSCA) is reviewing Africrypt’s situation, but has not officially launched a formal investigation. Unfortunately, cryptocurrency assets do not fall into the category of financial products in South Africa. Therefore, the FSCA has no jurisdiction over this matter. However, the report has been handed over to The Hawks, a specialized police department for combating organized crime.
This is not the first time South African Bitcoin traders have made headlines. Just last year, the now-defunct Mirror Trading International (MTI) defrauded investors from 23,000 bitcoins, equivalent to 1.2 billion U.S. dollars. The only benefit of all of this we can think of is that no one needs to resort to guns or violence to carry out this kind of robbery. With a few clicks here and there, you are bankrupt, and the others are billionaires.
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