Two South African teenage brothers running a Crypto currency investment, Africrypt, Ameer Cajee and Raees Cajee, have reportedly disappeared with Bitcoin worth $3.6 billion.
The Cryptocurrency investement of Ameer (17) and Raees (20) was said to have disappeared on the internet as soon as Bitcoin’s value went up.
The two brothers established Africrypt in 2019 and promised juicy returns.
The missing 69,000 coins, worth nearly $4 billion as at April, is described as the biggest cryptocurrency fraud in history.
A law firm hired by some of the investors has reported the case to the Hawks, a unit of the Police, after it was impossible to to reach the two brothers.
Also, crypto exchanges across the world have been put on red alert to block any attempt to convert the stolen digital coins.
In April, the Africrypt’s Chief Operating Officer, Ameer Cajee, who informed clients that the company suffered a cyber attack when the profit of Bitcoin rose, cautioned them against reporting the incident to legal advisors and authorities to avoid slowing down the recovery process of their investment.
But some investors still went ahead to engage a Cape Town firm, Hanekom Attorneys, to commence liquidation proceedings against Africrypt.
“We were immediately suspicious as the announcement implored investors not to take legal action,” Hanekom Attorneys told Bloomberg.
The lawyers added that Africrypt employees lost access to the back-end platforms one week before the alleged hack.
It would be recalled that in 2020, another South African Bitcoin trader, Mirror Trading International, collapsed with 23,000 digital coins worth $1.2 billion.