Raees Cajee, blamed by investors for billions of dollars in crypto losses, says fraction is missing
1 month ago
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A South African cryptocurrency entrepreneur, pursued by investors who allege that billions of dollars of their digital assets have vanished, says that less than $5 million is missing.
Raees Cajee, 21, and his 18-year old brother Ameer founded Africrypt in 2019, setting it up as a fund that invested in bitcoin and other crypto-tokens. But in April, Africyrpt said its systems were hacked and tokens were stolen. Lawyers hired by disgruntled investors say as much as $3.6 billion may be missing.
But Raees Cajee, in an interview on Monday from a location he wouldn’t disclose, said the firm’s portfolio was never remotely that big. "At the height of the market, we were managing just over $200 million," Cajee said. He added that no more than $5 million is unaccounted for. Cajee said he and Ameer Cajee are in hiding because they have received death threats.