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The largest unsolved cryptocurrency theft: 4 billion in Bitcoin vanished
In 2021, two South African brothers, Ameer and Raees Cajee, founders of the crypto investment platform Africrypt, vanished off the map after 69,000 Bitcoin went missing —valued at over $4 billion at the time—.
What happened:
The brothers claimed that the platform had been hacked and urged investors NOT to contact the authorities. But here's the juicy part: subsequent investigations revealed that the “hack” was pure theater. The funds were funneled through mixing services (mixing services) and hidden in multiple wallets.
The plot twist:
Despite massive public pressure, the brothers simply disappeared. No formal charges, no attempts at extradition, nothing. The case remained in limbo.
What does this tell us?
This is one of the largest frauds in the history of cryptocurrencies. It shows how the lack of regulation and the ease of hiding funds on the blockchain can become a paradise for scammers. A costly lesson for anyone who thinks that un audited crypto platforms are safe.