CEO of Alleged $16M Cryptocurrency Scam Declared Bankrupt
Willie Breedt, a South African national accused of stealing up to $16.3 million from around 2,000 investors via his VaultAge Solutions scheme, has reportedly been forced into bankruptcy by a local court. According to a recent report from News24, the sequestration order was initiated on July 3 by Simon Dix — one of VaultAge’s largest investors, who entrusted Breedt with 7.5 million South African rand, or $440,000.
Shortly after the sequestration order was granted, South Africa’s Directorate for Priority Crime Investigation, known as "the Hawks," raided the guesthouse, confiscating a laptop and a Ledger Nano crypto hardwallet which could potentially contain some of the missing funds. Additionally, the South African Reserve Bank has reportedly assigned PwC to lead an investigation into VaultAge and all agents who might have performed transactions on its behalf.
