Crypto scammers ?

Then there's the issues with Audited financials,not seeing any returns on the CIPC,even though you are registered locally
PsyWulf said:
And being registered locally,and having South African clients means you must comply with South African regulation


Also you need to have fact sheets with costs,fees,and returns yearly and publicly availab
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raees_cajee said:
I think you’ve misunderstood my statement , from our total AUM ( assets under management ) our South African client base and funds under management locally is extremely minimal at this point due to the lack of regulation. Being a South African citizen has nothing to do with it. I am quite familiar with the requirements locally , you must understand that it’s extremely difficult to operate without regulation that clearly defines and outlines cryptocurrency. The FSCA and the rest of our regulatory bodies have dragged their feet in drafting legislation and it’s killing innovation within the space.
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Send us full fund details. You have a VC fund so fact sheets should be available. Convince to invest with you?
 
So lets summarize the current position:
Our business is registered in South Africa,but we don't have lots of South African clients,also it's crypto so we don't have to comply with anything
We are however managing billions of ZAR worth of something somewhere,but the details are scant. Also no audits,fund fact sheets,or transparent costing

I'll stick to my earlier opinion if that's the totality of information
 
mikefromjoburg said:
Hi all, seems there are some pretty clued up people of the forum - do you know of any information regarding these oakes? https://africrypt.io/ - are they legit ? cheers
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Just go to a proper cryptocurrency exchange like AltCoinTrader etc., buy what you want there and use the investment like that. No need for AI or someone else to handle it. Those registered exchanges are like markets as it is.
I have been doing this on and off with XRP so I am getting to grips with it.
 
ZA_Chamber said:
Just go to a proper cryptocurrency exchange like AltCoinTrader
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with only around 7.5% of ZARBTC volume I'm guessing the spreads are going to be wider than on the other two ZA exchanges with much higher volume

ACT was also being recommended by the MTI folk ... because it doesn't block sends to scams yet

might want to reconsider your definition of a "proper" exchange
 
Still no returns filed with the CIPC,actually both Orgs registered at CIPC are noncompliant
 
Morning. Does anyone have information on this company, seems as if they have gone belly up. No website and reports of them being hacked.
 
'AI driven trading platform'

Now where have we heard that before? Honestly if people still invest in this after MTI it will be impossible to feel sorry for them when the inevitable theft occurs.
 
Seems like the inevitable has happened. A friend of mine has invested in this and hasn't been able to contact the owners for the last week. A press release was sent out today stating that the entire system was hacked and all has been lost and please not to go legal as this would delay the process. Same page out of all the scam books
 
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