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African traders least likely to fall for crypto scams: Chainalysis
17.9.2020
The region's traders are highly aware of scams and avoid them
Bitcoin Revolution South Africa: Scam Claims Support by President Cyril Ramaphosa
15.9.2020
A bitcoin investment scheme called “Bitcoin Revolution South Africa” has been gaining much attention lately. Promoters claim that famous South Africans endorse this platform, including mining billionaire Patrice Motsepe, comedian and actor Trevor Noah, and President Cyril Ramaphosa....
South African Crypto Exchange Luno Expanding Globally After Acquisition by Digital Currency Group
10.9.2020
Digital Currency Group has acquired South African cryptocurrency exchange Luno, which has more than five million customers in over 40 countries. The acquisition will help Luno expand globally, including across its existing markets in Africa, Europe, and Asia. DCG Committed to Helping Luno Expand...
South African Man Charged in U.S. Court for Fraud Involving $28 Million in Bitcoin and Forex
5.9.2020
A South African man has been charged with fraud in the Maryland District Court for allegedly scamming $28 million from over 1,000 investors. Dennis Jali, a former resident of Maryland, targeted church-going African immigrants, promising them guaranteed returns on his supposed bitcoin (BTC)...
African crypto exchange raises $1.5M from Andreessen Horowitz and others
27.8.2020
Crypto is truly a global asset class
Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key Institutions
27.8.2020
With sophisticated fraud schemes seemingly overwhelming the African crypto market, there is a growing need for players in the space to help fight this scourge. Some are responding through increased educational campaigns, which they hope will not only turn the tide against scammers but will also...
South African Regulator Warns Against Using Mirror Trading International
20.8.2020
Mirror Trading International is getting flak from regulators worldwide
South African Regulator Pressures Bitcoin Investment Company, Urges Clients to Request Refunds
19.8.2020
An embattled bitcoin investment company, Mirror Trading International (MTI)’s troubles took another twist August 18 after the South African regulator, Financial Sector Conduct Authority (FSCA) said that it is investigating the investment company. MTI’s latest conflict with the regulator...
South African Bitcoin-Based Trading Firm Investigated for Fraud
19.8.2020
After promising on its website to “take the hassle out of forex trading by doing it all for you,” a South Africa-based company is now under investigation by the country’s financial regulator, saying that the return figures which the company flashes seem “far-fetched and unrealistic.”
Per a press...
Two States Sanction South African Firms for Crypto Debit Card Fraud
18.8.2020
The Texas State Securities Board and Alabama Securities Commission issued cease and desist orders in response to a crypto debit card scam
South African Firms Ordered to Cease and Desist in 2 US States for Crypto Debit Card Fraud
17.8.2020
Two U.S. states have issued emergency cease and desist orders to South African firms and a South African national promoting a cryptocurrency debit card scheme. The companies claim that the card is like a traditional Mastercard but the states say the scheme is fraudulent. South African Firms...
High Fees Make BTC Less Appealing for Remittances in Africa: ‘Pray Blocks Happen Quickly’
13.8.2020
Bitcoin trading volumes are on the rise on the African continent despite the ongoing concerns about the high network fees. Data shows peer to peer bitcoin trading platforms recorded spiked growth in volumes starting in April. This was the same time as many countries implemented lockdown measures....
South African Bitcoin Investment Company Faces Fresh Scam Allegations
4.8.2020
FX Choice, a forex and crypto trading company, is making new allegations that South African bitcoin investment company, Mirror Trading International (MTI) is a multi-level marketing scam. The company says it uncovered this after researching into MTI, a firm that claims to have “118,027...
Ignorance and Greed Sustain Cryptocurrency Scams in Nigeria
28.7.2020
Nigeria is not only Africa’s biggest cryptocurrency market but is also a leading adopter of digital currencies globally. Official figures show the country is well ahead of fellow African countries. Citizens of the West African state use cryptocurrencies for cross border payments as well...
South African Exchange Valr Raises $3.4 Million in a Series A Funding Round
22.7.2020
A South Africa based cryptocurrency exchange, Valr has just raised $3.4 million in a Series A funding round led by 100x Group, the parent company to Bitmex. The funding round, in which 4Di Capital also participated, however, does not change Valr’s controlling shareholder structure. In...
BitMEX Owner Leads $3.4M Round for South African Crypto Exchange
21.7.2020
BitMEX owner 100x said investing in VALR’s Series A would bring exposure to the fast-growing South African market
BitMEX-affiliated Firm Leads USD 3.4m Investment in S African Exchange
21.7.2020
The investment arm of a new company operated by the creators of derivatives platform BitMEX, has spearheaded a USD 3.4-million cash injection in VALR, one of Africa’s biggest crypto exchanges.
Per a press release shared with Cryptonews.com, the Series A equity round of funding in the VALR exchange...
South African Bitcoin Investment Company Pushes Back Against Texas Scam Allegations
16.7.2020
Mirror Trading International (MTI), a South African bitcoin investment company at the center of a cease and desist order issued by the Texas State Securities Board (TSSB), is pushing back allegations that it is running a Ponzi scheme or a scam. MTI CEO Johann Steynberg issued a statement assuaging...
Texas Regulators Take Aim at South African Cryptocurrency MLM Scheme
9.7.2020
The Texas State Securities Board has successfully shut down the operations of an illegal cryptocurrency investment scheme
South African Crypto Investment Company Issued Cease And Desist Order In Texas
9.7.2020
The Texas State Securities Board (TSSB) issued a cease and desist order Wednesday against on Mirror Trading International (MTI), Forexandbitcoin.com and four individuals involved in a multi-level marketing scam. Out of the four individuals, Cornelius Johannes Steynberg is a resident of South...