Africrypt Founders Vanished with $3.6 Billion in Bitcoin

Summary # On June 23, 2021, Africrypt, a centralized platform claiming to connect banks, payment providers, and digital asset providers for seamless global money transfers, was reportedly compromised. Ameer and Raees Cajee, the exchange’s founders, were reported missing after alleging that almost $3.6 billion invested in the protocol was stolen in a “hack”. Africrypt staff lost access to the exchange’s back-end systems seven days before the claimed attack. Subsequent investigations found that most of the bitcoin invested with the exchange had been withdrawn and moved through tumblers and mixers, making it harder to track. ...