ONLINE SOUTH AFRICA Bitcoin ‘scam’ has South Africa’s police chasing billions 2 weeks ago Samuel Post Views: 38 A unit of the South African Police Service said it’s started an investigation into an alleged cryptocurrency investment fraud that has affected more than 28,000 people and led to losses of more than 1 billion rand ($80.4 million). The allegations involve “BitCaw Trading Company, commonly known as BTC Global,” the police unit said in an emailed statement on Friday. “Members of the public are believed to have been targeted as part of the scam and encouraged by BTC Global agents to invest with promises of 2 percent interest per day, 14 per cent per week and ultimately 50 percent per month.” “BitCaw Trading was not involved in the BTC Global scam and we are shocked to see our name connected with it,” Andrew Caw, who set up BitCaw Trading, said in messages via Facebook on Friday. “BitCaw Trading assists people with buying & selling Bitcoin as well as other Bitcoin related services. We do not manage third-party money or offer any kind of investment” and BitCaw didn’t set up BTC Global, he said. BTC Global’s services are suspended, according to that company’s website. In a statement on the site it blames its financial woes on a former employee. No contact details are given for BTC Global. “We are as shocked and angry as everyone,” the BTC Global team said in the statement. “If you feel you’ve had a crime committed against you, you need to follow the legal procedures to deal with the matter.” SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: bitcoin, South Africa Continue Reading Previous The Magic Cauldron – Enchanted Brew from PragmaticPlayNext Kenya shifts gambling market from credit cards to mobile transactions More Stories ONLINE Pragmatic Play kickstarts supercharged €7,000,000 drops and wins promotion 3 days ago Iwo Bulski EXPERTS SOUTH AFRICA Learn How Many Years It Takes for Different Materials to Break Down – Use Them Wisely! 3 days ago Samuel ONLINE WORLD NEWS Pragmatic Play launches Unibet’s dedicated Live Casino studio 4 days ago Iwo Bulski ONLINE WORLD NEWS TVBET expands in Mexico through the cooperation with Logrand Entertainment Group 4 days ago Iwo Bulski ONLINE WORLD NEWS Pronet Gaming boosts LatAm proposition with Vibra Gaming 4 days ago Iwo Bulski HOT NEWS NIGERIA ONLINE Microsoft Partnership – How it could Aid Nigeria iGaming Industry 5 days ago Adeleye Awakan ONLINE SOUTH AFRICA Why is online gambling so popular in South Africa? 5 days ago Samuel EGYPT ONLINE Can gambling and casino trademarks be protected in Egypt? 5 days ago Iwo Bulski BETTING SOUTH AFRICA Hollywoodbets Announced Sponsorship for SA women League 6 days ago Adeleye Awakan ONLINE WORLD NEWS iGaming NEXT announces its dazzling 2021 online edition – Online: Bright Future 6 days ago Iwo Bulski NIGERIA ONLINE Nigeria says in talks with Twitter after suspension 6 days ago Samuel EXPERTS SOUTH AFRICA Gambling Board CEO of South Africa’s most-populous province suspended 7 days ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.