Hawks move swiftly on claims of R1bn crypto scam
Gauteng-based Bitcaw Trading Company investigated after more than 28,000 investors suffer losses
More than 1,000 people have already contacted the Directorate for Priority Crime Investigation, the Hawks, since it revealed on Friday that it is investigating an allegedly fraudulent investment scheme totalling more than R1bn. The Hawks said Gauteng-based Bitcaw Trading Company, commonly known as BTC Global, was being investigated after more than 28,000 investors suffered losses in a cryptocurrency scam. Hawks spokesman Brig Hangwani Mulaudzi said the South African Reserve Bank has been brought in to help with the investigation, which is moving "very swiftly". The company is alleged to have targeted potential investors with promises of 2% interest per day, 14% a week and 50% per month. The Hawks said payments were initially made every Monday but suddenly stopped. On the BTC Global website individuals presenting themselves as the "admin team" said the group’s services have been suspended after its primary trader, identified as Steven Twain, failed to reply to e-mails requesting paym...