Following The Biggest Scam In Bitcoin History, South Africa To Tighten Crypto...
After possibly the biggest scam in Bitcoin history, South African government moves to stiffen regulation regarding crypto assets. South Africa Responds To Bitcoin Scams Over the past couple of years, the nation has observed a series of crypto scams, including two of the biggest Bitcoin scams ever. The first of these was in 2020, when […]
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Around 69,000 Bitcoin has vanished from a South African investment platform, Africrypt, along with two brothers who owned the crypto firm. Africrypt Founders Took $3.6 Billion A new Bitcoin scam involving the disappearance of $3.6 billion has surfaced in South Africa, just as investors are having a difficult time managing the Bitcoin volatility. Two brothers, […]
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 […]
Werner van Rooyen, head of Business Development and Growth at Bitx, the biggest Bitcoin exchange in South Africa in terms of user base and average trading volume, speaks with Cointelegraph about the penetration of Bitcoin in South Africa. Cointelegraph: How would you evaluate Bitcoin demand in South Africa? Werner van Rooyen: The demand for Bitcoin is based on the potential that the cryptocurrency has; either as an improved payment technology (means of payment) or as an alternative asset class (storage of wealth). CT: Could you paint a vivid picture of the Bitcoin Start-up landscape in....
In an unexpected turn of events, the management team at Mirror Trading International (MTI) now suggest that their CEO Johann Steynberg may have exit scammed. The team alleges that Steynberg, now believed to be in Brazil, has locked out key management staff from accessing MTI’s account with a local bank. Additionally, management now appears to confirm earlier allegations that bitcoin withdrawal requests are not being honoured despite previously refuting this. Status of Investors’ BTC Unknown The last-minute revelations by MTI management appear to buttress the findings of an....
The South African financial regulator has published a draft declaration of crypto assets as financial products. The regulator says South Africa has experienced “an exponential increase in the provision and use of crypto assets.” South Africa’s Crypto Regulation South Africa’s Financial Sector Conduct Authority (FSCA) announced Friday that it has published “a draft declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act [FAIS].” Comments on the draft declaration can be submitted until Jan. 28, 2021.....