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Africrypt Ponzi scheme

Investors in Collapsed South African Crypto Platform Push for Jailing of Africrypt Directors

Investors in Collapsed South African Crypto Platform Push for Jailing of Africrypt DirectorsA group of investors in Africrypt are reportedly pushing to have criminal charges pressed against directors of the now-defunct cryptocurrency investment platform. Opponents of the move have argued that this push is unlikely to succeed because many of the investors have already been reimbursed part of their funds. Mystery Investor Injects More Than $5 Million […]

Exploring the Rise and Impact of Restaking

Investors in Collapsed South African Crypto Platform Reimbursed a Portion of Invested Funds

Investors in Collapsed South African Crypto Platform Reimbursed a Portion of Invested FundsInvestors in Africrypt, the now-defunct South African crypto platform, were recently reimbursed a portion of their invested funds. The payments were made by Pennython Project Management LLC as part of a settlement offer that potentially ends claims against Africrypt’s runaway directors. White Knight Investor Identity Revealed Investors in Africrypt, a collapsed South African cryptocurrency investment […]

Exploring the Rise and Impact of Restaking

South Africa Bitcoin Heist: Court Grants Liquidators Authority to Track Missing Africrypt Investor Funds

South Africa Bitcoin Heist: Court Grants Liquidators Authority to Track Missing Africrypt Investor FundsA South African court has granted liquidators of the collapsed bitcoin investment firm Africrypt the powers to track down missing investor funds. Also, as part of the court decision, Africrypt liquidators will now have the authority to sell assets and property belonging to the company. Africrypt’s Evidence Under the Microscope According to a report, the […]

Exploring the Rise and Impact of Restaking

Africrypt Bitcoin Heist: Contradicting Reports About the Directors Whereabouts Surface

Africrypt Bitcoin Heist: Contradicting Reports About the Directors Whereabouts SurfaceIn a new twist to the Africrypt saga, two different reports have made contradicting claims about the whereabouts of Raees and Ameer Cajee, the two directors of the collapse bitcoin investment firm. However, both reports suggest the Cajees brothers had planned their escape prior to the alleged hacking incident in April. Vanuatu or Tanzania In […]

Exploring the Rise and Impact of Restaking

South African Regulators Reportedly Fast-Tracking Crypto Regulatory Framework

South African Regulators Reportedly Fast-Tracking Crypto Regulatory FrameworkWith South Africa receiving more than its fair share of cryptocurrency-related scams, a report suggests that regulators are responding to this challenge by fast-tracking the process of creating a new regulatory framework. As a result, regulators now expect this process, which was preceded “by the publication of proposals earlier in June,” to be complete “in […]

Exploring the Rise and Impact of Restaking

Africrypt Directors Deny Allegations They Fleeced Clients as Doubts Over Actual Value Missing Bitcoins Grows

Africrypt Directors Deny Allegations They Fleeced Clients as Doubts Over Actual Value Missing Bitcoins GrowsAccording to new reports, Raees and Ameer Cajee, the two young directors of the recently collapsed crypto investment firm, Africrypt, have “categorically denied” allegations they fleeced clients. Instead, the brothers insist their company is the victim of a hack while also claiming that the media may be overestimating the value of the missing bitcoins. These […]

Exploring the Rise and Impact of Restaking

Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’

Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’Following Africrypt’s collapse, South African regulator, the Financial Sector Conduct Authority (FSCA), released a statement asserting its lack of jurisdiction over cryptocurrencies. Although the regulator says it is “continuing to investigate complaints” against the crypto investment company, it concedes it has only “found evidence of crypto-asset transactions.” A Large Number of Scams While the FSCA […]

Exploring the Rise and Impact of Restaking