South Africa's "R54 billion" Bitcoin Brothers - from fairytale to horror story

[Jan]

Rise and fall of South Africa's "R54 billion" Bitcoin Brothers

Brothers Raees and Ameer Cajee have ruined people’s lives, and it is only a matter of time before the long arm of the law catches up with them.

Those were the words of private investigator Sean Peirce, who spoke to Carte Blanche in a segment that aired on Sunday night.

 

[gboy]

If this AI system was so great, I am sure he would have made a legal fortune, licencing it to Goldman Sachs , HSBC, 90%, of wallstreet plus scored a massive paycheck from Google, to bring him on to the AI development team.

 

[LinuxMan]

Don't know how these people sleep at night knowing they have caused such widespread financial damage:

• My son’s university money is with you. He may have to exit the course.
• My 92 year old Dad’s money is with you. He has almost nothing left now.
• A young lady has been retrenched and all her money is with you.
• A person is getting divorced and his wife is about to sue him for the money he has with you.
• A lady who is in her 70s has been retrenched and has no more money except for what was with you.
• The stories are horrific and I hear more and more every day.

 

[azboob]

Don't know how these people sleep at night knowing they have caused such widespread financial damage:

They shouldn’t have invested that money then.

 

[ToxicBunny]

Don't know how these people sleep at night knowing they have caused such widespread financial damage:

They sleep easily, because they started with this with the intention to fleece everyone that "invested"....

They don't care about the individual stories, all that matters is that they're rich.

 

[nivek]

If this AI system was so great, I am sure he would have made a legal fortune, licencing it to Goldman Sachs , HSBC, 90%, of wallstreet plus scored a massive paycheck from Google, to bring him on to the AI development team.

Yeah, exactly, it's probably more "AI" than AI

 

[The_Ogre]

In response, Ameer Cajee told Pilling that he should look in the mirror if he were looking for someone to blame.

Well, Cajee isn't entirely wrong there. Any person with common sense could see it's a scam.

 

[rietrot]

Don't know how these people sleep at night knowing they have caused such widespread financial damage:

The people who invested with them are more to blame for losing their own money than the fraudsters.

 

[rietrot]

Scams like these are a tax on being stupid. I almost feel we should just congratulate the fraudsters and let them enjoy the money as at the end of the day they have done us all a public service by appropriately redistributing wealth.

 

[Happy Days]

Is this the same algorithm (AI) that MTI used?

 

[dusi]

There is no missing R54 billion, the wallets the investors sent coins to are deposit wallets of a local exchange, all the outgoing transactions go to the same wallet which had received at the time R54 billion worth of bitcoin in total, but it's actually the exchange wallet that sends and receives thousands of bitcoin on a monthly basis. If the story of these two kids pulling off the biggest crypto heist in history sounds unbelievable, it's because it is... basically they were just receiving bitcoin to their exchange account, trading the bitcoin, then redistributing to their investors when they requested withdrawals. The figure of R75 million is probably more accurate. If it was R54 billion why is it that most people had never heard of Africrypt until now?

 

[AirWolf]

My broadband could have at least used my shopped picture from the other thread that cleaned up the plugs in the background

 

[Splinter]

They shouldn’t have invested that money then.

You are now blaming the victims? Nice.

 

[Splinter]

The people who invested with them are more to blame for losing their own money than the fraudsters.

Oh, another one. Very christian ethic.....

 

[BeerIsNotGood...]

Oh, another one. Very christian ethic.....

touched are we?

 

[Splinter]

touched are we?

Oh gawd, one of the standard, and dismally pathetic responses - "you must have been molested/touched as a child".....

 

[azboob]

You are now blaming the victims? Nice.

The stingy are eager to get rich and are unaware that poverty awaits them.

Proverbs 28:22

 

[Splinter]

The stingy are eager to get rich and are unaware that poverty awaits them.

Proverbs 28:22

Often it's the desperate that get pulled in by such scams.

 

[supersunbird]

My broadband could have at least used my shopped picture from the other thread that cleaned up the plugs in the background

Exactly what I was thinking, first thing I saw was those ugly plugs.

 

[supersunbird]

You are now blaming the victims? Nice.

Your go to line on MyBB is "I don't believe you", why are you not doubting these stories?