{"id":10419,"date":"2021-08-03T12:54:03","date_gmt":"2021-08-03T12:54:03","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/south-africa-bitcoin-heist-court-grants-liquidators-authority-to-track-missing-africrypt-investor-funds\/"},"modified":"2021-08-03T12:54:03","modified_gmt":"2021-08-03T12:54:03","slug":"south-africa-bitcoin-heist-court-grants-liquidators-authority-to-track-missing-africrypt-investor-funds","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/south-africa-bitcoin-heist-court-grants-liquidators-authority-to-track-missing-africrypt-investor-funds\/","title":{"rendered":"South Africa Bitcoin Heist: Court Grants Liquidators Authority to Track Missing Africrypt Investor Funds"},"content":{"rendered":"

A South African court has granted liquidators of the collapsed bitcoin investment firm Africrypt the powers to track down missing investor funds. Also, as part of the court decision, Africrypt liquidators will now have the authority to sell assets and property belonging to the company. <\/strong><\/p>\n

Africrypt\u2019s Evidence Under the Microscope<\/h2>\n

According to a report<\/a>, the court decision follows recent claims that Raees Cajee, one of the collapsed firm\u2019s directors, is opposing<\/a> the final liquidation of Africrypt from his hideout in Tanzania. The latest decision by the South Africa court comes as doubts grow surrounding Africrypt directors\u2019 claims of a breach by Ukrainian hackers.<\/p>\n

For instance, in the past few weeks the liquidators\u2019 legal representative, Ruann Kruger, is reported to have released a statement wherein he unravels Africrypt\u2019s dubious business model. In addition to questioning Africrypt\u2019s model, the statement also takes aim at the evidence which has been used by the firm\u2019s management to back the hacking claims.<\/p>\n

<\/p>\n

After examining Africrypt\u2019s claims, Kruger\u2019s statement goes on to repeat earlier allegations<\/a> that Raees and his brother, Ameer, may have had a hand in the disappearance of investor funds. The statement says:<\/p>\n

There is no evidence that this was indeed a hack of the Africrypt systems, and in support thereof, it seems that funds were depleted from the Africrypt wallets four months before the alleged hack.<\/p>\n

Soon after Africrypt abruptly stopped operating back in April 2021, a group of investors immediately applied for the court to grant a liquidation order against the investment company. According to the report, a provisional order was duly granted on April 26, while parties to the final liquidation proceedings are now expected to argue their cases in September.<\/p>\n

Tracking Down Africrypt Assets<\/h2>\n

Meanwhile, the report also quotes liquidators explaining the importance of the court\u2019s decision to grant them additional powers. The liquidators said:<\/p>\n

With the liquidator\u2019s extended powers, they will be able to investigate and interrogate the relevant parties, directors, and their related companies during the enquiry to uncover the mystery behind this ostensible bitcoin heist. The liquidator\u2019s main objective is to track down assets, attempt to gain access to Africrypt systems and their source codes to recover bitcoin wallets and funds invested and lost by investors.<\/p>\n

To aid in this process of recovery, the liquidators confirmed that a forensic auditor has been hired to look into the affairs of Africrypt and related parties.<\/p>\n

Do you agree that these additional powers are going to be useful to the liquidators\u2019 cause? Tell us what you think in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, Africrypt, Africrypt hack, Africrypt liquidation, Africrypt Ponzi scheme, Ameer Cajee, Bitcoin investment, Raees Cajee<\/p>\n","protected":false},"excerpt":{"rendered":"

A South African court has granted liquidators of the collapsed bitcoin investment firm Africrypt the powers to track down missing investor funds. Also, as part of the court decision, Africrypt liquidators will now have the authority to sell assets and property belonging to the company. Africrypt\u2019s Evidence Under the Microscope According to a report, the…<\/p>\n","protected":false},"author":0,"featured_media":10420,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10419"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10419"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10420"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}