Investment firm vanishes with $3.6 billion in bitcoin in possibly the biggest crypto scam in history

A South African cryptocurrency investment firm shut down after claiming to have been a victim of an online hack. It is now being reported that the firm laundered its holdings in the form of Bitcoin, while its founders are nowhere to be found.

Cryptocurrencies are still finding their space in today’s economy. While several factors argue their cause, their regulation seems to be impossible in many ways. A recent incident serves as an unwanted example of the same. A cryptocurrency investment firm based in South Africa is now being blamed for duping investors of about 69,000 bitcoin, approximately worth $3.6 billion. Founded by a pair of brothers, the local firm shut down its operations after telling investors that the funds were stolen by hackers.