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South African Brothers Turned Founders Vanish Along With $3B In Bitcoin

Two South African brothers have reportedly vanished from the public, and their disappearance may have caused Bitcoin worth $3.6 billion from their cryptocurrency investment platform to vanish as well. According to a report from Bloomberg, investors of Africrypt’s platform have hired a Cape Town law firm to investigate the brothers’ disappearance after reporting that the pair cannot be located at this time. An elite police unit called The Hawks has also been alerted as this could possibly be part of the biggest-ever dollar loss in a cryptocurrency scam. Crypto-exchanges across the globe have also been informed of the incident should any attempt to convert the digital coins be made amid their disappearance. Bloomberg reports that Bitcoin’s value has surged over the last year, but nearly 69,000 coins — worth more than $4 billion at their April peak — could now be lost. Amid the rising cases of fraud in cryptocurrency, this could trigger more regulation efforts to restore order in the...

Jun 25, 2021