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Friday, April 19, 2024

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Two Brothers Disappear With Bitcoins Worth $ 3.6 Billion

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Two brothers who started a bitcoin trading business from their bedroom and amassed $ 3.6 billion in investments have vanished, leaving their clients in fear for their money.

A Cape Town-based law firm hired by affected investors, Hanekom Attorneys, said in a statement it could not find Africrypt founders Ameer and Raees Cajee, according to media reports.

Raees and Ameer Cajee, 21 and 17 respectively, have been heard from since April when their platform shut down and told customers it was hacked, and funds stolen. The brothers are said to have urged Africrypt investors not to contact authorities as this would “only delay” efforts to recover the money. The brothers reportedly fled to the United Kingdom (UK) with bitcoins worth $ 3.6 billion.

The company told Bloomberg: “We were immediately suspicious as the announcement pleaded with investors not to sue.” He added: “Africrypt employees lost access to major platforms seven days before the alleged hack.”

The law firm reported the incident to the Hawks, the South African police unit that targets serious crimes like organized crime and corruption, after failing to locate the brothers.

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