NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crucial Role Of The CLARITY Act In Avoiding A New October 10 Crypto Crash, Expert Explains
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crucial Role Of The CLARITY Act In Avoiding A New October 10 Crypto Crash, Expert Explains

South African Brothers Escape With $3.6 Billion In Bitcoin

Keshav Verma
Keshav Verma
Last Updated: June 11, 2024 1:56 pm
3 mins read
Bitcoin scam

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Two African brothers have disappeared, and so does the $3.6 billion in bitcoin from their cryptocurrency investment platform.

Biggest Scam In Bitcoin History?

Africrypt is a cryptocurrency investment platform based in South Africa. It was set up by Ameer Cajee and his brother. The pool offered huge returns for investors.

Back in April, around when BTC was riding high, Chief Operating Officer Cajee announced that the company was under a hack.

In the notification, however, Cajee asked investors not to seek legal help as it will slow down the recovery process.

It was immediately a red sign, and some investors hired Hanekom Attorneys, a law firm, to look into the case.

Related Reading | Ledger Scam: Scammers Mail Hacked Ledger Devices To Steal Crypto

Reports say that Africrypt employees lost access to backend servers a week before Cajee revealed the alleged hack to the investors.

Hanekom Attorneys found that the Bitcoin from the Africrypt pool has been sent through methods that make it hard to trace. Such methods include sending the coins to other large pools, or through tumblers and mixers.

The company website is down. And Cajee and his brother, Raees, have their phone numbers set to voicemail. They have disappeared, along with almost 69,000 Bitcoins.

Africa’s Finance Sector Conduct Authority is also looking into the case. However, as Bitcoin isn’t considered a legal financial asset, the organization hasn’t been able to launch a formal investigation.

Now, according to reports, Hanekom Attorneys has reported to the Hawks, an elite group of the police force, regarding the disappearance of the two brothers.

The law firm has also alerted global crypto exchanges to report if there are any attempts to sell off the stolen Bitcoins.

Related Reading | Crypto Sonar: The Sign That Whales Are Accumulating Bitcoin

This isn’t the first time something like this has happened in the country. Just last year, another company, Mirror Trading International, was involved in a case where investors had lost $1.2 billion in Bitcoins.

The nearly 69,000 Bitcoins stolen in the Africrypt case were worth more than $4 billion during April when the incident occurred. Around three times as much as the fraud in 2020, which was dubbed as the biggest cryptocurrency scam in 2020.

The African brothers scam is possibly the biggest in the entire history of the cryptocurrency, and it might provoke governments to become serious about crypto regulation.

Bitcoin Price

Bitcoin is a little under $35k at the time of writing. The coin is up 4.1% in the past 24 hours, but down 7.6% in the last 7 days.

Here is a chart that shows how the price of the cryptocurrency has changed in the past few months:

Bitcoin chart

Bitcoin seems to show a slight upwards trend | Source: BTCUSD on TradingView

Some experts believe we could see the currency drop down a bit, and then return on a bullish path.

However, nothing is clear at the moment, and it’s possible a bearish pattern might end up clawing the market.

Tweet123Share196ShareSend
Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin price

Analyst Sets $105K As Next Bitcoin Price Target — Here’s The Timeline

After a fairly optimistic start to the new year, the Bitcoin price might finally be ready to take off, as...

Opeyemi Sule 8 hours ago
Bitcoin

Bitcoin Tests $90,000 Support As Netflows Turn Positive — Details

After encountering significant resistance around the $94,000 local high, Bitcoin has retraced to a psychological and technical key support at...

Semilore Faleti 9 hours ago
Bitcoin

Bitcoin Price Hits Crash Line, But This Time Is Not Random

According to a new technical analysis, the Bitcoin price has returned to its “Crash Line,” fueling talk of a possible...

Scott Matherson 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Range-Bound Into The Weekend, But Next Week Holds The Real Test

Godspower Owie 3 hours ago
Bitcoin

Attention, Bitcoin Bulls: Here’s Why $99K Might Be The Next Crucial Level To Watch

Opeyemi Sule 5 hours ago
Chainlink

Chainlink Stuck In A Micro-Range As Traders Await A Clear Trigger

Godspower Owie 6 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク 価格は2026年にどう動く?Piコイン予想と注目の新規暗号資産

    パイネットワーク...

    8 hours ago
  • リップル 今後に注目:XRP ETF流入12.2億ドルで市場心理が反転、上放れの兆し

    リップル 今後に注目:XRP...

    9 hours ago
  • 仮想通貨 おすすめ:WLFI(ワールド・リバティ・ファイナンシャル)価格予想と次に急騰が狙われる暗号資産

    仮想通貨...

    9 hours ago
  • 2026年に向けて今買うべき暗号資産は?ソラナ・スイ・レンダーと注目アルトコインを検証

    ...

    12 hours ago
  • 2026年にミームコイン市場が反発、「今注目の暗号資産」は

    ...

    12 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.