Ealier this week, over 27,000 complainants from SouthAfrica, America and Australia forwarded their complaints to the SouthAfrica's Commercial Crime Unit against BTC Global, a company in which they have invested their cryptocurrency valued at over $50m.
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BTC Global encouraged over 26,000 People into purchasing bitcoins and gave them an opportunity to invest their cryptocurrency in the same company by tranferring their bitcoins into an online wallet address.ln return, they would receive dividends of 14% per week in a get-rich cryptocurrency scheme in which more than 26,000 People within SouthAfrica and abroad have invested from as little as R16,000($1,344) to R1.4m($117,600).
Some of the victims of the scam tell how easy it was to sign up for the service. No identification was required. So, if the system crashed investors had no one to hold accountable. As we talk now the company is no more. What a mess?
According to the investigations, some of the suspects are from SouthAfrica and others abroad.
This must be a lesson to my brothers and sisters in Africa, let's not rush to invest in any cyrpto scheme.
Love,
@timothy256
with bitcoin i think the safest way for us is to just buy and hold , Iv been a victim to a few of these scams , iv learnt to just hold onto my coins for the long term , If you want to increase your bitcoins , buy mining equipment or find a reliable cloud mining service
Congratulations @timothy256!
You have completed an Azanian achievement on Steemit and have been rewarded with a Krugar Rand from Gold Reef City! Nkosi Sikelel' iAfrika!