The founders of South African cryptocurrency exchange Africrypt, Amir and Rais Kajii, have disappeared, according to a Cape Town-based law firm.
In April of this year, the exchange’s founders claimed a “hack” that resulted in the theft of $3.6 billion. But Amir and Rais Kajii asked investors not to report the incident to authorities because it would allegedly slow the process of recovering the money.
Hanekom Attorneys, a law firm, discovered that someone had withdrawn all Africrypt funds from local accounts and client wallets and ran them through a special system that makes it difficult to track the money. This happened 7 days before the founding brothers reported the hack.
The situation is complicated by the fact that the Financial Industry Regulatory Authority in South Africa cannot launch an official investigation because the cryptocurrency has not been officially recognized. If the funds are not recovered, it would be the largest cryptocurrency loss in history.