Two South African brothers who founded crypto investment firm Africrypt vanished with ~69,000 bitcoins, worth $3.6B+, after informing clients of an alleged hack
- Lawyers hired by investors piece together funds' disappearance — Africrypt loss would rank among biggest-ever crypto heists
Bloomberg
Related Coverage
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- South African Crypto Founders Vanish, $3.6 Billion Allegedly Missing Decrypt · Andrew Asmakov
- Africrypt brothers allegedly vanish with billions in Bitcoin Memeburn · Sam Spiller
- South African ‘Exit Scam’ Sees Brothers Vanish with USD 3.6B in Bitcoin Cryptonews · Tim Alper
- Duo vanishes with 69,000 Bitcoin, stash worth $4 billion at peak BTC prices CryptoSlate · Shaurya Malwa
- Sibling Investment Firm Founders Vanish With Record $3.6 Billion in Bitcoin Tom's Hardware · Zhiye Liu
- Africrypt Stole $3.6 Billion In Bitcoin: Is This The Biggest Crypto Scam In History? Bitcoinist.com · Anifowoshe Ibrahim
- Founders of South African Crypto Investment Firm Along With $3.6B in Bitcoin Are Missing CoinDesk · Cheyenne Ligon
- $3.6B in Bitcoin vanishes in ‘hack’ along with owners of South African crypto platform Cointelegraph · Brian Quarmby
- Billions in bitcoin lost in South African cryptocurrency investment firm exit scam SiliconANGLE · Duncan Riley
- Three things that have vanished: $3.6bn in Bitcoin, a crypto investment biz, and the two brothers who ran it The Register · Katyanna Quach
- Founders of South African Bitcoin exchange disappear after $3.6 billion ‘hack’ Engadget · Igor Bonifacic
- Bitcoin's Loss Could Be Stablecoins' Gain The Information · Hannah Miller
Discussion
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@mikko
@mikko
on x
A pair of South African brothers have vanished, along with 69,000 bitcoins from their cryptocurrency investment platform. With that kind of money, you just might be capable of disappearing for the rest of your life. https://www.bloomberg.com/...
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@hkanji
Hussein Kanji
on x
Africrypt loss would rank among biggest-ever crypto heists https://www.bloomberg.com/...
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@charlesarthur
Charles Arthur
on x
A story as old as... bitcoin. https://twitter.com/...
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@haroonmeer
Haroon Meer
on x
I often complain about South African technologists not being ambitious enough. I might have to be more careful about what I wish for. https://twitter.com/...
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@northmantrader
Sven Henrich
on x
Sometimes stuff just disappears. https://www.bloomberg.com/...
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@caseynewton
Casey Newton
on x
“As a CEO I've had to make a lot of hard decisions over the years. None harder than stealing all my customers' money and vanishing along with my brother”
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@markshaw
Mark Shaw
on x
I don't believe for 1 sec they were hacked. They woke up 1 day & thought. Fuck it. We've got 1billion in the kitty. Let's buy an island & bugger off. Keep saying. You gotta move your crypto off exchanges into your own wallets. Crypto is the Wild West. https://twitter.com/...
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@caseynewton
Casey Newton
on x
Now THESE are the kind of people I wish would write long Twitter threads about their business success https://t.co/rONhikToZo
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@carlquintanilla
Carl Quintanilla
on x
“... the disappearance of about 69,000 coins — worth more than $4 billion at their April peak — would represent the biggest-ever dollar loss in a cryptocurrency scam.” #bitcoin (h/t @LONGCONVEXITY) @business https://www.bloomberg.com/...
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@charlesarthur
Charles Arthur
on x
It does show how far we've come, though. In 2010, this story would have been “A pair of South African brothers vanish along with $360 of Bitcoin from their crypto investment platform”. https://twitter.com/...
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@coinbureau
@coinbureau
on x
How are these still happening in 2021?? Every successful scam that uses crypto is another opportunity for the MSM & Politicians to unjustifiably knock it. The only way that we can prevent this is through mass education and awareness ✅ https://www.bloomberg.com/...
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@moneyball
Steve Lee
on x
Not your keys not your coin https://twitter.com/...
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@seldo
Laurie Voss
on x
Living the dream https://twitter.com/...
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@thegreatola
Ola Elixir
on x
Another FUD ? https://twitter.com/...
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@cryptonator1337
@cryptonator1337
on x
‘Would you like some fries with your #Bitcoin FUD article Sir’ https://twitter.com/...
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@grady_booch
Grady Booch
on x
Thoughts and prayers. https://www.bloomberg.com/...
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@chad_hurley
Chad Hurley
on x
Maybe they went to the moon? https://twitter.com/...
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@oluyomiojo
Oluyomi Ojo
on x
Something something about “if you don't own the key... ” https://twitter.com/...
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@deansheikh1
Dean Sheikh
on x
Anyone seen Elon or Kimbal? https://twitter.com/...
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@marxculture
Mark O'Neill
on x
Crypto is grift, plain and simple https://www.bloomberg.com/...
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@chrisdunntv
Chris Dunn
on x
Not your keys = someone else's “tragic boating accident” https://twitter.com/...
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@nouriel
Nouriel Roubini
on x
Every new day another crypto scam bigger than the previous one...Caveat Emptor... South African Brothers Vanish, and So Does $3.6 Billion in Bitcoin https://www.bloomberg.com/...
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@treehcapital
Rob Majteles
on x
Just another Wednesday in crypto-land 👀 https://twitter.com/...
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@nivie
Nivi
on x
Africrypt loss would rank among biggest-ever crypto heists https://www.bloomberg.com/...
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@paulwallace123
Paul Wallace
on x
Two South African brothers have vanished, along with #Bitcoin worth $3.6bn from their crypto investment platform. Cape Town lawyers hired by investors have told crypto exchanges across the globe to look out for any attempt to convert the digital coins. https://www.bloomberg.com/.…
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@mikko
@mikko
on x
The brothers are 20 and 21 years old.