May 26, 2022

Two brothers, also famously referred to as the Cajee brothers, were accused of vanishing with $3.6 billion of investments from their currency exchange service in Johannesburg known as AfriCrypt. The heist is reported to have begun in April 2021 when there was a surge in price of Bitcoin, which consequently led to the brothers’ disappearance.

Ameer Cajee, the elder brother and Chief Operating Officer, informed the users of the exchange service that the company was facing a hack. He then requested the clients and lawyers not to report the situation to the authorities as this would slow the recovery of the lost funds. 

However, some skeptical investors decided to take further action by hiring a Cape Town firm that forwarded the matter to the Hawks, a specialized unit of the national police force. The questionable request of imploring the investors to not report to the authorities made the brothers’ actions suspicious, and further investigation revealed that the employees of the company had lost access to the exchange platforms a week before the alleged hack. 

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SEE ALSOSouth African Crypto Investment Firm, AfriCrypt, Reportedly Defrauds Over $3.6 Billion from Investors

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Their lawyer stated that there was proof of the hack,…

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