The largest heist in crypto history involving tens of thousands of missing BTC has taken an unexpected turn after the termination of the suspects’ lawyers.
The two suspects, 20-year-old Ameer Cajee and 17-year-old Raees Cajee, are the founders of Africrypt, a former crypto investment firm based in Johannesburg, South Africa.
In April, Africrypt froze all accounts following what they described as an attack, advising investors not to report the incident to authorities claiming that this would delay the recovery of compromised accounts.
Shortly after, Africrypt’s website shut down and the suspects disappeared allegedly with about 69,000 BTC, worth $3.6 billion of investor funds. Their whereabouts are still unknown.
Lawyer John Oosthuizen earlier said that the suspects denied the accusations that they are involved in a heist, but after appearing in the first public defense of the case, Oosthuizen tells Bloomberg that they no longer have the authority to assist the brothers.
“Our mandate to assist the Cajee Brothers has been terminated…I look forward to reading your reporting on the Africrypt saga further.”
South Africa’s Financial Sector Conduct Authority (FSCA) classified Africrypto as a “Ponzi,” a fraudulent investment scheme, and warned the public against being involved with similar entities.
“This entity was offering exceptionally high and unrealistic returns akin to those offered by unlawful investment schemes commonly known as Ponzis. The public is urged to understand that unrealistically high returns suggests that the investment scheme is likely to be fraudulent.”