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Two Masterminds in Last Ditch Effort to Stall Liquidation of MTI
4.8.2021
In a last-ditch attempt to stall the sale of Mirror Trading International (MTI) assets, two masterminds of the collapsed bitcoin Ponzi scheme have warned investors that liquidating the investment company will likely result in them being asked to return all withdrawn bitcoins. Opposition to Attempts...
FBI joins Mirror Trading probe in Africa to help recover US investor funds
4.8.2021
The Federal Bureau of Investigation is joining the investigation into one of the largest alleged crypto scams of 2020
South Africa Bitcoin Heist: Court Grants Liquidators Authority to Track Missing Africrypt Investor Funds
3.8.2021
A 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....
Kenyan Insurance Executive Calls Cryptocurrencies Ponzi Schemes, Warns Users This Will ‘End in Tears’
2.8.2021
A Kenyan insurance executive, Julius Kipng’etich has compared cryptocurrencies like bitcoin to Ponzi schemes and has urged his countrymen not “touch this.” In addition, Kipng’etich warned those already involved in crypto trading to be prepared for the consequences as this...
Africrypt Bitcoin Heist: Contradicting Reports About the Directors Whereabouts Surface
27.7.2021
In 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...
Nigerian Pop Artist Shills Meme Coin and Price Briefly Doubles — Followers Question Artist’s Motives
22.7.2021
The Nigerian pop artist and celebrity, Davido, recently posted several tweets endorsing ‘rapdoge,’ the so-called “first deflationary meme token fully supported by celebrities & rappers.” In one of the tweets, Davido tells his 9.5 million followers to “buy...
8,000 BTC Belonging to Mirror Trading International Traced, Investors Urged to Lodge Claims
5.7.2021
A total of 8,000 bitcoins belonging to Mirror Trading International (MTI) have been traced while an additional 29,000 bitcoins could soon meet a similar fate. The traced coins, which are valued at over $280 million (4 billion rand), represent a potential breakthrough for beleaguered MTI investors....
South African Regulators Reportedly Fast-Tracking Crypto Regulatory Framework
1.7.2021
With 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...
There Are Now Twice as Many 2021 ‘Bitcoin Deaths’ Compared to 2020’s BTC Obituaries List
30.6.2021
Bitcoin is down in value 45% since the crypto asset’s all-time high (ATH) three months ago and the downward movement has ignited significant speculation about another bear market. Other skeptics believe that bitcoin has died, as the web page that hosts bitcoin obituaries indicates 2021...
South African asset manager denies stealing billions from users, claims $5M was lost in hack
29.6.2021
AfriCrypt’s founders deny running off with billions in customers funds, asserting they went into hiding after receiving death threats from “dangerous people.”
Europol Cracks Down on Vitae Belgian Ponzi Scheme, Recovers €1.5 Million in Crypto
28.6.2021
Europol, the EU law agency, cracked down on Vitae, a Belgian Ponzi scheme. Europol raided 17 locations related to the website, promoted as a social media site with its own cryptocurrency. The company operated in Switzerland under the name VITAE AG. Law enforcement officials recovered €1.1...
Africrypt Directors Deny Allegations They Fleeced Clients as Doubts Over Actual Value Missing Bitcoins Grows
27.6.2021
According 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...
Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’
25.6.2021
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...
$3.6B in Bitcoin vanishes in 'hack' along with owners of South African crypto platform
24.6.2021
Billions worth of Bitcoin has reportedly vanished along with the operators of South African crypto firm AfriCrypt. Is it a scam or a hack?
With regulators handing out $2.5B in fines since 2014, crypto is not the 'wild west' of finance
22.6.2021
A new report from Elliptic has found that unregistered securities offerings account for more than half of all crypto-related fines handed out by U.S. regulators
Alleged $3.6B crypto Ponzi's 'victims' still believe the exchange is legit
10.6.2021
Some of those caught up in an alleged $3.6 billion crypto Ponzi scheme are refusing to aid police investigations as they still expect to triple their investments
South African Court Submissions Expose Lies and Deceptive Tactics Used to Perpetuate MTI Bitcoin Ponzi Scheme
10.6.2021
New submissions by a South African regulator, the Financial Sector Conduct Authority (FSCA) and liquidators have exposed the web of lies and deceptive tactics that were used by Mirror Trading International (MTI) CEO Johann Steynberg and others to perpetuate the Ponzi scheme. Undeclared Losses...
Fleeing Lynchpin of Nigerian Crypto Ponzi Scheme Inksnation Captured
29.5.2021
The lynchpin of Inksnation, one of Nigeria’s biggest crypto Ponzi Schemes, Omotade-Sparks Amos Sewanu, has been captured. According to Nigeria’s Economic and Financial Crime Commission (EFCC), Sewanu, who was on the run, was nabbed in Sokoto, a city located in the northwest part of...
Cuban Central Bank Issues Warning on the Rising Number of Crypto-Related Ponzi Cases
19.5.2021
Cuba has witnessed some exciting times in the last few months as far as nationwide digital currency acceptance, but the road toward this goal is still under construction. The country’s central bank recently issued a warning about the rising number of cryptocurrency-related scam cases across...
National Court of Spain Takes the Investigation of the Alleged Ponzi Crypto Scheme Arbistar
23.4.2021
The investigation against an alleged major Spanish Ponzi crypto scheme will now be in charge of the National Court of Spain. A judge from the national legal instance is now taking the investigation of Arbistar after the inhibition of a judge in Tenerife. Economic Damages Could Reach Over $120...