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The AfriCrypt South African crypto-monetary network owners have been accused of fraud, as 69,000 bitcoins “disappeared.”

It was founded in 2019 and guaranteed all its investors “crazy returns.” However, they did not want to realize their expectations for a luxurious existence. The platform was suspected of having more than $4 billion worth of hacking in April this year. Then one of AfriCrypt’s owners reported the hacking attack and requested the authorities not to publish the event, claiming a lengthy recovery procedure, assuming the local police forces were “linked.”

Naturally, customers were not content with this situation and suspected that the team could be fraudulently involved. It also concerned that the public notification of the hack by AfriCrypt contained the request that the platform is not tried. The firm announced its forced termination of the service in mid-April. Do I need to clarify that nobody has received any monies or damage compensation previously invested?

In a rigorous legal examination, Hanekom’s counsel determined that cash invested by clients on the platform were sent from official AfriCrypt accounts to various crypto-currency mixers to “cover their paths.”

The money robbed during the “hacking” is today estimated at 2,3 billion dollars, but at the time of Bitcoin’s high value, the amount was above 4,4 billion. More surprisingly, just a few months before AfriCrypt, a second South African corporation, Mirror Trading, was robbing its customers of $1.2 billion or 29,000 Bitcoins at the time.

The newest Bloomberg article on this matter indicates that Amir and Reis Cage, founders of the FNB accounts in Johannesburg, have “disappeared from the radar.”

A particular unit of the local police, “Hawks,” involved in large-scale investigations related to organized and economic crimes, requested the brothers to reply to the occurrence. However, the situation in Southern Africa, where digital currencies are still not regarded as a financial product, is significantly hampered by a lack of a defined regulatory framework.

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