According to yahoofinance, founders of a South African Exchange, Africrypt have disappeared after an alleged hack of the exchange platform. Investors may have lost about $3.6 billion in bitcoin in the incident. In April, the exchange was allegedly hacked and investors were advised not to inform the police to avoid slowing down the process of fund recovery.
It was later revealed that the exchange funds were withdrawn and employees denied access to the back office of the exchange even before the alleged hack.
The founders, Raees and Ameer Cajee who are brothers have been unreachable and worsening the matter is the fact that this cannot be treated legally because South Africa does not recognise cryptocurrencies as financial products yet.
It was later revealed that the exchange funds were withdrawn and employees denied access to the back office of the exchange even before the alleged hack.
The founders, Raees and Ameer Cajee who are brothers have been unreachable and worsening the matter is the fact that this cannot be treated legally because South Africa does not recognise cryptocurrencies as financial products yet.
