As the South African police is investigating in to the 80 million dollar bitcoin scam, the BTC Global team has set up a website to express their anger at Steven Twain for misleading everyone including the team. “We are as shocked and angry as everyone. But we all knew the risks involved in placing funds with Steven. We all became complacent with Steven. And all of us funded him independently. Until Steven Twain resurfaces or is found there is nothing the admin team can do,” the website says.
They also express their dismay at the response of the investors: “We call for the threats, harassment and violence on leaders and admin to stop. It is unfathomable that people can behave like this. If you feel you’ve had a crime committed against you, you need to follow the legal procedures to deal with the matter.”
According to the South African police, investors were lured by promising them an unrealistic return of 2 percent per day, 14 percent a week and 50 percent in a month, for their investments. “Members of the public are believed to have been targeted as part of the scam and encouraged by agents of BTC Global,” the police said. “This could be the tip of the iceberg with potentially thousands more yet to discover they’ve lost money,” they stated.
Meanwhile CNN reports that the boy who was kidnapped for a ransom of 120,000 dollars in bitcoin has been found alive. The 13-year-old boy from the town of Witbank had been abducted by unknown kidnappers on Sunday while he was playing. The scam of 80 million dollars was reported just a few days later.
In March mybroadband.co.za, a technology website reported for the first time that people had lost over 50 million dollars invested at BTC Global.
With bitcoin skyrocketing in 2017, many investors who have no idea about the technology or how the trade is done have poured money in to cryptocurrencies with the hope of making a fortune. But that has also made it easy for the seasoned scammers to disappear with the invested funds without leaving a trace.