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South African bank denies business relationship with alleged crypto company Africrypt

June 20, 2021 - Around 2 mins mins to read

According to local media, South Africa’s leading financial institution FNB has denied allegations of a banking relationship with the recently collapsed crypto investment firm Africrypt. The FNB also insists that it will not allow transactions that helped two Africrypt directors disappear with billions of dollars in investor money.

South African bank protests against relationship with investment firm Africrypt, accused of fraud in crypto theft worth $ 3.6 billion

Disappearance of mutual funds

The FNB’s rejection comes almost two months after the abrupt closure of Africrypt. At that time, the management of the crypto investment company stated that there was a bug in Africrypt’s trading system. These vulnerabilities affected customer accounts, wallets and nodes and therefore forced Africrypt to freeze all accounts.

But shortly after the so-called security gap, Africrypt director Ameer Cajee and his brother Raees Cajee are said to have “transferred crypto investments from their South African accounts to Bitcoin in April 2018”. South African media reports estimate that there are around $ 3.6 billion in mutual funds.

In an interview with the media, FNB spokeswoman Nadiah Maharaj refused resolutely to acknowledge the existence of a relationship between FNB and Africypt. According to a report media, Maharaj referring to customer privacy restrictions, said:

“The FNB has again confirmed that it has no trading relationship with Africrypt. For reasons of customer confidentiality, the TSO cannot provide any information on certain bank accounts. “

Using Cryptocurrency Mixer

A local media investigation found that the Cajee brothers fled to the UK after successfully siphoning off investors’ money. These findings were also confirmed by another investigation by Hanekom Attorneys, a law firm hired by victims of the Africrypt scam. Alongside these findings, the law firm’s investigation revealed that Africrypt directors used crypto mixers to mask cash flow.

While the incident has now been reported to the Hawks (South Africa’s elite police force), the law firm’s founder, Darren Hanekom, reports that Africrypt’s accounts with the FNB have been “deleted” and “all of the investor’s money” has been used to mix up evidence destruction services .

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According to News.Bitcoin

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Market

South African bank denies business relationship with alleged crypto company Africrypt

According to local media, South Africa’s leading financial institution FNB has denied allegations of a banking relationship with the recently collapsed crypto investment firm Africrypt. The FNB also insists that it will not allow transactions that helped two Africrypt directors disappear with billions of dollars in investor money.

South African bank protests against relationship with investment firm Africrypt, accused of fraud in crypto theft worth $ 3.6 billion

Disappearance of mutual funds

The FNB’s rejection comes almost two months after the abrupt closure of Africrypt. At that time, the management of the crypto investment company stated that there was a bug in Africrypt’s trading system. These vulnerabilities affected customer accounts, wallets and nodes and therefore forced Africrypt to freeze all accounts.

But shortly after the so-called security gap, Africrypt director Ameer Cajee and his brother Raees Cajee are said to have “transferred crypto investments from their South African accounts to Bitcoin in April 2018”. South African media reports estimate that there are around $ 3.6 billion in mutual funds.

In an interview with the media, FNB spokeswoman Nadiah Maharaj refused resolutely to acknowledge the existence of a relationship between FNB and Africypt. According to a report media, Maharaj referring to customer privacy restrictions, said:

“The FNB has again confirmed that it has no trading relationship with Africrypt. For reasons of customer confidentiality, the TSO cannot provide any information on certain bank accounts. “

Using Cryptocurrency Mixer

A local media investigation found that the Cajee brothers fled to the UK after successfully siphoning off investors’ money. These findings were also confirmed by another investigation by Hanekom Attorneys, a law firm hired by victims of the Africrypt scam. Alongside these findings, the law firm’s investigation revealed that Africrypt directors used crypto mixers to mask cash flow.

While the incident has now been reported to the Hawks (South Africa’s elite police force), the law firm’s founder, Darren Hanekom, reports that Africrypt’s accounts with the FNB have been “deleted” and “all of the investor’s money” has been used to mix up evidence destruction services .

Teacher

According to News.Bitcoin

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