$3.6 billion worth of Bitcoin stolen by 2 South African brothers

$3.6 billion worth of Bitcoin stolen by 2 South African brothers

The brothers, who are aged 45 and 31, were arrested in Johannesburg on Friday following the theft of the digital currency. According to a report, the two allegedly used a laptop containing a Bitcoin wallet and subsequently withdrew about 18 bitcoins on July 2. The older brother – who was the mastermind behind the crime – was apprehended at a local shopping centre in the city. The younger brother was arrested at his home in the Johannesburg suburb of Parklands.

It seems the South African brothers who stole $3.6 billion worth of Bitcoin, the most popular cryptocurrency, from their employer, were not so well known or respected by their peers. Apparently the South African brothers were involved in fraud and money-laundering schemes and had built their illicit fortune from Bitcoin.

The South African twins, who went by the pseudonyms “Dawid and Robert, have been accused of stealing the cryptocurrency from Mt. Gox, a Tokyo-based exchange. That was in 2014. Prosecutors say the pair used the stolen funds to buy real estate, luxury cars and expensive items like watches and art. They were arrested after police traced money transfers to their accounts. The older brother, 29, who was also known as “Dawid” and “Walid,” was sentenced to nine years in prison, while his 29-year-old brother will spend seven years in jail.. Read more about bitcoin disappeared from wallet and let us know what you think.

Summary of the situation

– The Kaji brothers have committed the largest Bitcoin theft in history.
– The Bank for International Settlements warns of illegal activities related to cryptocurrencies.

A few weeks ago, the largest potential theft of cryptocurrency was discovered in South Africa. Two brothers from the South African country disappeared with $3.6 billion in bitcoins, leaving authorities in the dark. Local media such as ITWeb and Independent Online were the first to report on the case, which is the largest bitcoin heist in history.

In 2019, brothers Rais and Amir Kaji founded a cryptocurrency app that focuses on bitcoin investing. The app was called Africrypt, which should be very useful for South Africans.

However, this project for a mobile app for cryptocurrency did not last long: The brothers and 69,000 BTC disappeared without a trace. In cryptocurrency, this amount is estimated at $4 billion (56 billion rubles).

The Africrypt scam with Bitcoin

 

$3.6 billion worth of Bitcoin stolen by 2 South African brothers

The Kaji brothers’ Africrypt scam began in April, when Amir, the eldest brother, claimed the app had been hacked. A statement followed stating that all crypto currency accounts had been hacked.

However, Amir Kaji asked the users not to report the matter to the authorities so as not to delay the resolution of the issue. This measure was questioned by some investors, who immediately filed a report.

Hanekom’s lawyers said they have tried to contact the brothers. But when they failed to do so, the hawks intervened to prevent organized crime and corruption. According to the investigation, access to the Africrypt nodes was revoked in the week before the alleged theft.

The case was reported to the world’s central trading systems to raise the alarm. Some of these platforms have had to report a large number of bitcoin transactions from South Africa or neighboring regions. FNB, which was responsible for holding Africrypt, is also under investigation.

Although the Kaji brothers have not yet found the bitcoin funds, the investigation is ongoing. Investigators constantly encounter all sorts of obstacles that prevent them from succeeding.

The South African Financial Conduct Authority declined to support the case on the grounds that it was outside its remit. The country’s bitcoin regulator has taken a neutral stance on the issue. The international payments bank has also recently said that cryptocurrencies are speculative and used for illegal activities.

After more than a month of investigation, all indications are that the Kaji brothers got what they wanted. These digital bandits can keep the cryptocurrencies in their portfolios until the investigation is over. Several people have been scammed by the Africrypt app, once again exposing the evils of the crypto currency market.

Therefore, it is crucial for cryptocurrency investors to use trusted cryptocurrency sites and apps to store their tokens to prevent such cases of theft and financial fraud.On Tuesday, local South African news outlet Live Drive News reported that two brothers, aged 26 and 31, had stolen $3.6 billion worth of Bitcoin from their online exchange, Bitfinex. The brothers reportedly used a special type of malware to hijack Bitcoin wallets from their customers. The malware was able to steal private keys, allowing the thieves to either withdraw from the exchange or, in some cases, transfer the stolen funds out of the exchange and into their own personal wallets.. Read more about south brothers so does billion bitcoin and let us know what you think.

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