Crypto

Vanishing Bitcoin Brothers ‘With £ 2.5 Billion Of Crypto Stolen’ Could WALK Free After Explosive Offer From Mysterious Trader

The Bitcoin brothers who disappeared with 2.5 billion stolen cryptocurrencies could be freed after a mysterious trader made an explosive offer to buy their business.

Traders Raees Cajee, 21, and Ameer, 18, fled South Africa in April after telling investors that their company, Africrypt, had been hacked and all of their funds had been stolen.

Raees and Ameer Cajee, 21 and 18 years old respectively, have been missing since April.Credit: Supplied

The brothers took £ 2.5 billion worth of BitcoinCredit: Getty

The men denied wrongdoing and claimed that they had been forced to flee due to “death threats” from “organized crime syndicates”.

But in a strange turn of events this week, a mysterious investor offered to bail out the company on one condition: that all charges against the Cajee brothers be dropped immediately.

The sole investor has offered to inject £ 3.7 million into the now-defunct crypto company in exchange for 51% of Africrypt’s shares and intellectual property rights, according to Moneyweb.

Under the deal, £ 2.9 million will be used to pay off the company’s debts, while £ 800,000 will be used to buy the company.

Ruann Krugar, who represents the liquidators of Africrypt, said that there was “a belief among some that there is some useful intellectual property in the company, and the idea is that the company acquires it as part of the commitment.”

Another shocking condition raised by the anonymous investor is that the Cajee brothers be reinstated to the Africrypt board with one of the liquidators, according to The South African.

Investors described it as a “free jail release card” for the Cajee brothers, but backed the deal in an 11-hour vote on Friday.

“This is not the worst deal you can hope for,” said one shareholder, who wished not to be named.

“We got back maybe 40 or 50 cents in the Rand, and the company could be reactivated so the other funds recover over time. “

The condition is not legally binding and the final decision to prosecute the children rests with the South African National Tax Authority.

SHADOW TRANSACTIONS

Raees and Ameer have categorically denied stealing £ 2.5 billion worth of Bitcoin and claim no more than £ 3.6 million was missing, they told the Wall Street Journal.

South African police say Raees and Ameer sold their Lamborghini Huracan, a luxury suite in one of the country’s most expensive hotels and a rented beachfront apartment in Durban weeks before they disappeared.

They then sent investors an email with strange terms asking them not to alert authorities to the attack as it would “delay” the recovery of the money.

Ameer told interested parties that “the extent of the client’s personal information breached in the attack was unknown.”

The lawyers also claim that the suspected merchants expelled staff from Africrypt’s firing programs seven days before the alleged attack.

Investigation into the ordeal revealed that in November 2020, investors noticed a series of strange transfers from their Bitcoin wallets using ‘dark web’ technologies, making them untraceable, according to a law firm representing the investors.

“We are immediately suspicious as the announcement implored investors not to take legal action,” the Hanekom Attorneys law firm, which represents investors, said later in a statement.

Lawyers claim that Africrypt smuggled the funds in by pooling investors’ money with other Bitcoin transactions so that they cannot be traced.

Gerhard Botha, a Johannesburg lawyer representing 58 investors, was able to obtain an interim liquidation order against the fugitives.

The brothers had until July 19 to challenge the settlement, The Post reported.

Ameer and Raees launched Africrypt in 2019 and were praised for the success of their business in a cover story published in December by local news outlet The Umhlanga Magazine.

Since then, the story has been disconnected.

The boys also applied for Vanuatu citizenship, crushing £ 95,000 each for passports, according to documents seen by The Guardian.

Raees and Ameer have been praised by the South African media for the success of their business.

Raees and Ameer have been praised by the South African media for the success of their business.Credit: Supplied

The brothers reportedly applied for Vanuatu citizenship

The brothers reportedly applied for Vanuatu citizenship

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