The two brothers operating the infamous Africrypt exchange have denied the allegations of swindling crypto exchange’s customers. Instead, they have argued through their counsels that they are evident victims of a hack attack and they were the hackers who actually plundered the crypto funds belonging to Africrypt’s customers. They have also alleged that the media is trying to hype the situation as the figures of actual loss are minimal while they are alleging it to be a “mega scam”.
Ameer Cajee and Raees Cajee were the founders of a crypto trading platform called Africrypt. Both of them were running the day-to-day affairs of the exchange in the capacities of its directors. However, the firm’s operations were collapsed lately and it was alleged by the two directors that a hack attack had occurred. It was told that the crypto funds lying with the firm were then looted and plundered by the hackers. Being aggrieved, the customers lodged complaints against the firm and its two directors.
Upon investigation by the local agencies, it was assumed that the directors were hiding behind the hack attack. Instead, they have themselves plundered the customers’ crypto funds. A case was then taken up by the Court which is pending.
Before the court, the Cajee brothers pleaded not guilty. They alleged that they were in fact the victims of the hack and their reputations have been tarnished. Both of them denied the allegations of defrauding the public, particularly Africrypt’s customers. They claimed that there was a hack attack in which the hackers looted all the money. They have no connection with or involvement with the hack attack. It was an unfortunate event which has caused loss of business and reputation to them.
The Cajee brothers further argued through their attorneys that they are victims of media attacks as well. They claimed that the amount of loss was not that big as was described by the media. They said that an impression has been created by media that they were “fraudsters” and that their firm Africrypt was a “mega scam”.
Even their attorney was asked by BBC regarding the Cajee brothers’ case. He informed the channel that his clients have been pleaded in a false case. All the allegations against them lack any basis and meritless. However, when the news agency asked the attorney whether Africrypt lodged any complaint before the police, the attorney replied “no”. Instead, the attorney said that his clients are very young and only 18 and 20 years old. They have been receiving life threats and their families are not safe. Therefore, they are presently hiding and only he knows where both of them are residing temporarily.
However, the lawyer confirmed that his clients would be glad to cooperate with the authorities and put an end to the matter. But they have to be made sure about their and their family’s safety.