Thanks for stopping by to read our article on BTC Global Scam.
Most South Africans have fallen prey to a gigantic Bitcoin scam that's presently being researched by the Hawks (Police).
The “investment company” under the spotlight is named BTC Global, which guaranteed extremely massive returns over short periods of time in the event that you sent them your Bitcoin.
BTC Global Scam
Local press have dubbed BTC Global Team as “among the largest BTC Global Scam to reach South Africa”.
After the filing of 27,500 complaints, South African authorities have confirmed an investigation to BTC International Team in the BTC Global Scam. BTC International Team complaints have been reported to have been registered primarily from sufferers in South Africa, the US and Australia were in the BTC Global Scam.
Hawks spokesman Captain Lloyd Ramovha on Thursday affirmed the severe commercial crimes unit was investigating complaints against the BTC Global Scam worldwide' a company where thousands spent cryptocurrency valued over $50-million by moving bitcoins into an internet wallet. We reported on BTC Global last year here.
“I've spoken to a few of the researchers in our group and he's confirmed that this case of the BTC Global Scam came about a couple of weeks ago.”
“The sum will be over $50-million and may increase as more victims return” stated Ramovha. He couldn't confirm whether the BTC Global Scam artists were Africans.
“The analysis of the BTC Global Scam is in its infancy. Additionally, I can't say whether the BTC Global Scam is a Ponzi scheme. BTC Global has been investigated for contravening the Financial Advisory and Intermediary Services Act`” he explained.
We reviewed BTC Global Team past November and, according to its business model, reasoned it was a Ponzi scheme.
After BTC International Team's collapse, the study demonstrated that the BTC Global Scam is likely being controlled by natives Cheri Ward and Andrew Caw — that collectively might be working together with other people based in South Africa.
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