Africrypt

Where are Ameer Cajee and Raees Cajee? The founding brothers of South African, cryptocurrency investment platform Africrypt have reportedly vanished along with investors’ Bitcoin worth $3.6 billion.

According to Bloomberg, a law firm in Cape Town hired by investors says the company’s website is no longer working with both Ameer and Raees Cajee, the founders of the investment platform missing.

The law firm also says calls to the two founders were immediately directed to a voicemail service.

From reports gathered, Africrypt was founded back in 2019 where it provided bumper returns for investors. The Investors are, however, wailing in desperation after all their invested money disappeared.

According to reports, back in April when Bitcoin was rocketing and hitting new highs, trouble started with the company’s Chief Operating Officer, Ameer Cajee, informing clients that Africrypt had been hacked.

Under weird circumstances, Ameer asked the investors to refrain from reporting the incident to lawyers and authorities as it would ‘slow down the recovery process’.

… “client wallets and nodes were all compromised… Getting the money back will take a substantial amount of time to complete, if successful.

Should investors turn to legal proceedings to get back their money, that “will only delay the recovery process”…

-Company Statement on 13th April

Some clients immediately hired the law firm, Hanekom Attorneys to look into the matter. On investigation, the firm discovered that Africrypt’s pooled Bitcoin was transferred from its South African accounts and client wallets.

We were immediately suspicious as the announcement implored investors not to take legal action. Africrypt employees lost access to the back-end platforms seven days before the alleged hack.

-Hanekom Attorneys

The firm claims that the coins went through tumblers and mixers or to other large pools of bitcoin to make them very difficult to change.

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Meanwhile, while investigations were underway, the two brothers had managed to disappear. After the discovery, attempts to reach the founding brothers were futile

Africrypt employees reportedly also lost access to the back-end platforms seven days before the alleged hack.

The Africrypt scam isn’t the first in the continent and will not be the last, Crypto investors in South Africa lost millions of dollars when another South African Bitcoin trader, Mirror Trading International collapsed.

There is also a similar crypto investment in Kenya which claims to have created the Kenyan Bitcoin, read more about the investment scheme here

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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