More than 27 thousand people, including citizens of Africa, America and Australia, were subjected to one of the largest bitcoin scams in South Africa.
South Africa's Priority Crime Investigation Authority spokesman Captain Lloyd Ramowha confirmed on Thursday that the department is currently investigating complaints against BTC global, where thousands of people have invested more than $50 million in bitcoin through the scammers' online wallet address.
“The investigation began two weeks ago and is currently in its early stages. We received 27 500 applications from applicants, many of whom are located outside South Africa. The total amount to date is 50 million, but may increase if new applicants appear. BTC Global is accused of violating the Financial Advice and Intermediary Services Act,” said Mr Ramowha.
The victims said they invested between R16 000 and R1.4 million in BTC Global because the head trader was Steve Twain, a well-known forex trader. They received some weekly payments until Twain disappeared two weeks ago and now investors believe Twain was not real. His assistants wrote on Facebook that they could not find him.
According to sowetanlive.co.za
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