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In South Africa, an investigation is being conducted into fraud in the ICO for $ 80 million

The cryptocurrency project deceived 28,000 investors.

28.May.18 9:44 PM
By Martin Roads


In South Africa, an investigation is being conducted into fraud in the ICO for $ 80 million
Fraud in ICO is not uncommon. On a wave of great interest in cryptocurrencies, projects are also being developed, the purpose of which is the crypto scam. Investors lost their money as a result of fake ICOs or financial pyramids.

In South Africa, the same investigation is underway in the case of the crypto project of BTC Global, which attracted $ 80 million of investments, but failed to fulfill its promises to investors.

It was stated that each investor would receive 2% of income daily, in a month - 50%. It is reported that, nevertheless, some of the investors received their pay, however, at a certain point, the payments ceased. According to the police, more than 28 thousand people can be affected by fraud. For a total of more than $ 80 million. The investigation continues.

South African law enforcement agencies believe that the number of defrauded investors who have invested in BTC Global's crypto-prototype may increase by another thousand.

Today we also reported that the Central Bank of South Africa does not recognize the cryptocurrency as money, the issue of its regulation is being studied, but so far no decision has been made on it.

Earlier we wrote that because of the scum Australian investors in 2017 lost more than $ 1.5 million.

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