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Africrypt: A Case of Vanishing Act

by K. Vatsala Devi

We have heard of Houdini the magician who made a 10,000-pound elephant named Jennie disappear and the act was called “The Vanishing Elephant”. But the news where two brothers associated with one of South Africa’s largest cryptocurrency investment platforms, along with their $3.6 billion USD in Bitcoin, vanishing is not a magic show.

According to Bloomberg, Hanekom Attorneys, a law firm in Cape Town, said they cannot locate Ameer and Raees Cajee, the founders of Africrypt, and have filed missing person reports to the Hawks, the country’s national police force.  Presently, authorities cannot launch an official investigation into the incident as cryptocurrency is not legally recognized as a financial product in South Africa.

Read the full story here: Founders of South African Bitcoin Exchange Vanish Following Alleged $3.6 Billion USD Hack

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