Several months after 69,000 bitcoins disappeared from a South African exchange, the police have opened an investigation.
The police in South Africa are looking into a possible crypto scam case after an investment company attempted to reimburse some investors from the now-defunct Africrypt exchange.that South African Police forces across four provinces, including Durban and Johannesburg, are currently investigating reports in connection to the alleged Africrypt scam from 2021 involving co-founder brothers Raess and Ameer Cajee.
Following the offer from Pennython, the investors are now pushing for the arrest of both Raees and Ameer Cajee, whose whereabouts remain unknown. Some investors were reportedly unsatisfied and hired law firm Hanekom Attorneys to look into the incident. Hanekom discovered that Africrypt employees lost back-end access seven days before the supposed hack, followed by the transfer of missing funds via mixers or to other large pools of BTC, which made the funds harder to trace.South Africa’s lack of cryptocurrency regulatory policies could prove a stumbling block in ongoing investigations into the Africrypt Saga.
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