AfriCrypt Disappears with $3.6 Billion Worth of Bitcoin

AfriCrypt, the well-known South African crypto trading platform, stopped functioning back in April. The owners, Raees and Ameer Cajee, who are also brothers, claimed that the shutdown was because of piracy concerns. Now, both of them have disappeared alongside $3.6 billion worth of Bitcoin.

Both brothers started the company in Cape Town, South Africa. Their website went down in April, to which they requested the users to be patient. They stated that while users are right to be on edge, a lawsuit will only delay proceedings.

After they allegedly vanished, the traders from AfriCrypt hired a law firm to locate the brothers. Currently, no one has any information about their location, while their calls are automatically being directed to voicemail.

Is this the biggest Crypto Heist?

The crypto exchange AfriCrypt was established back in 2019 and offered esteemed returns. The platform functioned decently for two years but came under suspicion back in April. At that time, Bitcoin was reaching its peak, and the exchange suddenly went down.

Ameer Cajee (AfriCrypt’s CEO) stated that the platform was breached. Despite them telling the users to stay patient, some hired Hanekom Attorneys, a law firm, to investigate. The investigation revealed that the exchange had already transferred the BTC pools from the wallets.

Hanekom’s attorney stated that the development was suspicious. Once the news came out, the founders disappeared, and the suspicions became graver. There is no response, and no one can contact the brothers. The employees even lost control of the platform’s backend a week before the said breach. If it’s a scam, it’ll mark the biggest crypto heist to date. That’s why check before choosing any cryptocurrency exchange. You must check our trusted & best crypto exchanges list before investing your bitcoins.

AfriCrypt, the South African trading platform, went down back in April. The founders stated that the reason was a security breach, but now they are nowhere to be found. With $3.6 billion worth of BTC at stake, investors have already hired a law firm to track them.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button