Copy link
Increase text size
Decrease text size
Link copied

$3.6B of Bitcoin (BTC) vanish along with two founders of a South African crypto investment app

The two South African brothers, who founded the crypto investment app Africrypt in 2019, disappeared along with 69,000 BTCs worth around $4 billion at their April peak.

Image by PIRO4D from Pixabay

Thu, 24 Jun 2021, 10:34 am UTC

Two brothers in South Africa might have just pulled off the biggest crypto heist in history. The two siblings, who founded a crypto company, suddenly vanished along with more than three billion dollars worth of Bitcoins (BTC).

Ameer Cajee and his younger brother, Raees Cajee recently vanished along with around $3.6 billion worth of Bitcoin in what might be the world’s biggest crypto heist, according to Business Insider. The two South African brothers, who founded the crypto investment app Africrypt in 2019, disappeared along with 69,000 BTCs worth around $4 billion at their April peak.

Ameer Cajee, who is the company’s chief operating officer, informed customers that the platform was hacked. The breach supposedly compromised clients’ accounts, wallets, and nodes.

But what was unusual was that Ameer told clients not to report the breach to South African authorities. The explanation given was that Africrypt was still trying to recover the funds and reporting the incident to the police might interfere with their recovery efforts.

“We regret to inform you that due to the recent breach in our system, client accounts, client wallets, and nodes were all compromised…” Africrypt said in its announcement, according to local publication Independent Online. “Unfortunately, this has forced Africrypt to halt operations … We urge all clients to please be patient as we attempt to resolve the situation. It is understandable that clients may proceed the legal route, but we ask clients to please acknowledge that this will only delay the recovery process.”

However, some customers of the crypto investment app became suspicious and decided to report the hack. They also approached Hanekom Attorneys to help them locate the missing brothers, and when that failed, a South Africa police unit called Hawks became involved as well.

“We were contacted by investors shortly after the Africrypt announcement and immediately became suspicious as the announcement implored investors not to take legal action,” Darren Hanekom, founder of Hanekom Attorneys, said. “In taking the matter forward, we requested our clients to provide copies of all relevant correspondence, their cryptocurrency wallet addresses, and proof of payments.”

Hanekom added that based on their investigation on the transfer of funds, it appears that various dark web tumblers and mixers were used resulting in severe fragmentation. While the incident was announced as a hack, Hanekom found an anomaly, because the delivery address used between April 9 and 13 in the dissipation of the funds is the same address used by Africrypt’s regular business dealings.

“Consequently, the nature of the dissipation being a ‘hack' seems misplaced in these circumstances,” Hanekom said. “Further … we are not privy to the status of the South African bank account(s) used to run Africrypt, save for the fact that they are held with FNB.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2021.09.28 00:07:08
I am a crypto currency trader and i make over 200% daily trading all day and night and also by passing even when market is down and others are resting , If you are interested, I can teach you how to trade and also help you achieve your goal in life with crypto i can turn 4 btc into $340,000.00 in less than four weeks, now that bitcoin has high prices...please note that crypto currency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins , bitcoin can also be traded for Ethereum, Litecoin, United States Dollar, Ripple, Euro, IOTA, and other stocks you need to put to trading on a daily basis with a very correct strategy and a target of profit as you get into the trading market with your capital. Also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more info....contact me on [email protected]
Note it’s always better to learn on how to trade yourself than let another take advantage of your hard earned money and keep on promising you its better you just inbox to learn I don’t help anyone in trading thnk you and God bless you.
  • 0
  • ·
  • 0
  • grimmeslelele
  • 2021.06.24 15:28:52
Let's say you lost your Bitcoins by sending them to someone who ripped you off. ... How can I secure my bitcoin wallet and recover lost bitcoin? ... If the funds are in an exchange, you'll need to contact this company and they will help you get your money back because i am been scam as well and this company is the GOD sent to me to get my money back from scammer without any money upfront and they will get it for you within 6 working days perfectwealthrecovery
w h a t s â p p plus 1 2 5 4 3 0 7 7 1 8 5
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $48,740.00 (-1.34%)
  • Ethereum (eth) $4,135.08 (+0.07%)
  • Binance Coin (bnb) $551.84 (-2.97%)
  • Tether (usdt) $0.998336 (-0.12%)
  • Solana (sol) $189.41 (-9.08%)
  • Bitcoin (btc) $48,740.00 (-1.34%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft