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Alleged South African Crypto Scam Company Files for Bankruptcy

insidebitcoins.com

After he fled the country, Breedt had reportedly cut communications with the company and its investors. Earlier this week, Simon Dix — one of VaultAge’s largest investors, who invested 7.5 million South African rand (about $440,000), issued a sequestration order against Breedt.

The raid yielded some meaningful results, with law enforcement finding a laptop and a Ledger Nano crypto wallet that could contain some of the investors’ funds. Last December, local business-focused news source Business Report pointed out that the South African Reserve Bank was working towards developing crypto legislations.

Read in Full: insidebitcoins.com

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