Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According to Bloomberg, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the process of recovering their missing money.

Some of those involved in the exchange hired Hanekom Attorneys, the law firm that said it couldn’t find the two brothers, to investigate the incident. It found that someone had withdrawn Africrypt’s pooled funds from the local accounts and client wallets where the coins were stored originally and put them through tumblers and mixers, making it difficult (though not impossible) to trace the money. “Africrypt employees lost access to the back-end platforms seven days before the alleged hack,” the law firm told Bloomberg. The outlet attempted to call both Cajee brothers multiple times only to get their voicemail each time.

Complicating any recovery attempt is that South Africa’s Finance Sector Conduct Authority can’t launch a formal investigation into the incident because cryptocurrency isn’t legally considered a financial product in the country. If no one can recover the money, it will go down as the largest cryptocurrency loss in history, easily overshadowing the approximately $200 million CAD that disappeared when the founder of Canada’s QuadrigaCX exchange died while travelling in India. source link

Stellar and Ripple are two altcoins that have been on the cryptocurrency scene for over six years. Both coins saw strong rallies in the late-2017 boom that saw Bitcoin hitting the $20,000 level. However this year has already seen BTC trading above $40,000, yet gains in the altcoins have been harder to come by.

When deciding on whether to choose Ripple or Stellar, we have to consider their potential for gaining the most users. Ripple’s XRP coin was a favourite investment for many who fantasised about altcoin riches, and the coin had a very passionate community supporting it. XRP was designed as a cross-border currency with low transaction fees and fast execution. For this reason, many saw it as an alternative to the traditional financial system, where international money transfers were costly and could take days, where XRP transactions could be settled in less than five seconds.

Stellar’s project is similar to Ripple’s but has expanded into a wider range of products. The project offers global payment apps that leverage the currency-backed tokens that already exist on the Stellar network. Alongside this, there is a built-in decentralised exchange, which allows users to swap crypto, forex, or other securities. Finally, Stellar has built a micropayments service, which could be used for tipping or subscriptions. Source

Everyone seems to want cryptocurrency these days. But to get in on the action, you’ll need a crypto exchange where you can buy and sell digital currencies, like Bitcoin, Ethereum and Dogecoin.

To help you pick the right one, Forbes Advisor combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges. All of these, however, come with one caveat: Cryptocurrencies are speculative investments and should only be made if you’re willing to accept wild price swings and a decent risk of losing everything. source

Mycelium is easy to use open-source and mobile-only blockchain wallet. It is one of the best Bitcoin exchange that allows you to set custom transaction fees. This tool will enable you to choose how long you are willing to wait for a transaction to be completed.

A cryptocurrency wallet is a device, physical medium, program or a service which stores the public and/or private keys for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often also offers the functionality of encrypting and/or signing information.
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