Forex in this article
?? Did the founders of AFRIPT break up?
?? bitcoin gold
?? The brothers’ lawyers reported the incident
The brothers don’t have access to lawyers either
The founders of South African crypto investment platform Africombet have disappeared along with $3.6 billion worth of bitcoin, according to several reports. Meanwhile, the Wall Street Journal, citing an estimate by Big Brother, reported about $200 million worth of bitcoins that the company is said to have managed. While the exact value of the BTC assets remains unclear, it seems more and more apparent that the two brothers have already decoupled.
So far it is known that the law firm of Honeycomb in Cape Town has not been able to locate the brothers Amir and Rice Kaji. This was last reported by Bloomberg, adding that not only were calls to the Cajee brothers unanswered, the company’s website was down or unavailable as well. Meanwhile, the lawyers have already notified the authorities and notified exchanges around the world and asked for a report if someone tried to exchange coins.
events in advance
But according to Bloomberg, there was a strange activity that led to the two brothers’ disappearance. In April, Africrypt co-founder Amir Kaji told investors that the crypto platform had been the victim of a hacker attack. It is also said that Cajee advised investors not to report the incident to the authorities as this would slow the recovery of funds, and shortly thereafter the Africrypt website was no longer available.
Then many skeptical investors called Hanekom Attorneys, while some less impatient investors have already begun liquidation proceedings against Africrypt. The lawyers then conducted their own investigation and told Bloomberg that they had already discovered at that point that company employees had lost access to the back-end platforms seven days before the alleged hack.
Conditions in South Africa make investigations difficult
It will be difficult for the authorities to investigate the disappearance of the two brothers as they do not allow an additional official investigation to be opened. The reason for this is the legal regulations, because according to South African law, cryptocurrency investments are not yet considered financial products. In a public statement, the Financial Sector Conduct Authority of South Africa (FSCA), which is actually responsible for financial fraud, said that complaints had been received against AfriCrypt and that it was currently investigating whether the company actually offered a financial product or service. This point is central to the investigation’s progress, because if that were the case, AfriCrypt would have to register with the regulatory authority – which, however, did not happen. “Zu diesem Zeitpunkt haben wir nur Beweise für Krypto-Asset-Transaktionen gefunden. Derzeit sind Krypto-Assets in Südafrika nicht durch ein regulator Gesetz zum Finanzsektor reguliert und folglich ist, ht in diemen if che derörönh Lässä FSCA.” Continue.
Isabelle Tonius / finanzen.net editors
Image sources: Godlikeart / Shutterstock.com, Igor Batrakov / Shutterstock.com