{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=PL&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=South+African+crypto+platform+denies+claims+of+stolen+billions&text=In+April%2C+it+was+alleged+that+two+South+African+brothers+had+made+off+with+billions+of+dollars+of+crypto%2C+plundering+investor+funds.&text=Co-founder+of+AfriCrypt%2C+a+South+African-based+%3Ca+title%3D%22Crypto+Trader%22+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fcrypto-trader-review%2F%22+data-replaced%3D%22true%22%3Ecryptocurrency%3C%2Fa%3E+investment+firm%2C+Raees+Cajee+has+rejected+the+claims+that+investor+funds+were+stolen+-+stating+that+AfriCrypt+lost+%245+million+USD+worth+of+cryptocurrency+in+a+hack.%0A%3Ch2%3EAfriCrypt+denies+claims+of+stolen+billions%3C%2Fh2%3E%0AEarlier+this+year%2C+AfriCrypt+had+sent+a+notice+to+users+of+the+platform+regarding+the+hack+-+urging+investors+to+avoid+taking+legal+action+in+order+to+ensure+the+recovery+process+wouldn%27t+be+slowed+down.+That%2C+standing+as+a+red+flag%2C+coupled+with+the+fact+that+the+brothers+had+allegedly+halted+the+platform%27s+operations+and+then+shortly+thereafter+disappeared+raised+warning+signs+to+investors+and+the+public.+Three+months+later%2C+Raees+%3Ca+href%3D%22https%3A%2F%2Fwww.wsj.com%2Farticles%2Fraees-cajee-blamed-by-investors-for-billions-of-dollars-in-crypto-losses-says-small-fraction-is-missing-11624909401%3Fmod%3Dhp_lista_pos4%22%3Espoke+with%C2%A0The+Wall+Street+Journal%3C%2Fa%3E+to+counter+the+claims+against+himself%2C+his+brother%2C+and+the+platform+noting+that+their+disappearance+was+rather+that+they+had+gone+into+hiding+after+receiving+death+threats.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0AAccording+to+The+Wall+Street+Journal%2C+investors+had+hired+lawyers%2C+alleging+that+as+much+as+%243.6+billion+USD+may+be+missing.+However%2C+Raees+noted+that+the+firm%27s+portfolio+was+never+that+significant%2C+saying%3A+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0A%22%3Cem%3EAt+the+height+of+the+market%2C+we+were+managing+just+over+%24200+million.%3C%2Fem%3E%E2%80%9D+He+also+added+that+no+more+than+%245+million+USD+had+been+displaced.%0A%3Ch2%3EFSCA+notes+the+firm+has+Ponzi-like+characteristics%3C%2Fh2%3E%0ADespite+the+denied+claims+from+the+co-founder%2C+the+South+African+Financial+Sector+Conduct+Authority+%28FSCA%29+stated+that+the+firm+showed+more+signs+of+something+less+legitimate+and+had+several+indicators+that+the+platform+might+be+a+Ponzi+scheme.+According+to+the+FSCA%3A+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0A%E2%80%9C%3Cem%3EThis+entity+was+offering+exceptionally+high+and+unrealistic+returns+akin+to+those+offered+by+unlawful+investment+schemes+commonly+known+as+Ponzi%E2%80%99s.%E2%80%9D%C2%A0+%3Cstrong%3EBold%3C%2Fstrong%3E%3C%2Fem%3E%0A%0AWhile+the+FSCA+made+comments%2C+it+also+noted+that+it+could+not+take+any+legal+action+against+AfriCrypt+because+the+regulations+in+South+Africa+are+not+yet+founded+enough+to+make+a+case+against+the+platform.","timeout":15}