About 69,000 Bitcoins or $3.6 billion recently’disappeared’ from the South African investment platform along with two owners.
The AfriCrypt platform was founded in 2019 and is run by brothers Ameer and Raees Cajee.
On April 13, the customer received a notification that the platform was hacked. At the time of the incident, AfriCrypt was said to be holding about 54 billion rand (South African local currency) in Bitcoin, worth $3.6 billion.
Shortly after, the platform announced it was halting operations and began the process of “attempting to recover stolen funds and compromised information.”
Law firm Hanekom Attorneys handled the case on behalf of the affected users.
However, suspicions were raised when a customer received a text message containing the threat: “You can get legal intervention, but we ask you to kindly acknowledge that this will only delay the process. recovery”.
“We immediately suspected something was wrong as this announcement urged investors not to take legal action. In addition, Africrypt employees lost access to the platforms seven days before the platform announced the attack,” said lawyer Hanekom.
The law firm also accused the two owners of stealing a total of 69,000 BTC from AfriCrypt’s accounts and customers’ wallets. Then put these funds into “severely dispersed mixers” to disperse the assets.
The two platform bosses are currently unavailable and the AfriCrypt website is down. The case was reported to the national police agency and the South African High Court Gauteng issued a temporary liquidation order.
Although South African authorities have not yet reached a conclusion, it appears to be more of a scam than an attack.
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