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Bitcoin Trader, Receiving $ 13 Million From Investors, Has Been Lost!

The person claimed to be a Bitcoin ( BTC ) fraud reportedly went bankrupt with a $ 13.3 million worth of 227 million South African rand payments.

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Bitcoin Trader, Receiving $ 13 Million From Investors, Has Been Lost!

Willie Breedt, CEO of VaultAge Solutions, has traded Bitcoin and other cryptocurrencies on behalf of investors – most investors seem to lose significant shares in the company.As reported by News24, Simon Dix, the largest individual investor in VaultAge; On Friday, July 3, he applied to the Gauteng High Court in Pretoria for a foreclosure order.Breedt disappeared two weeks ago, when investors hired a group of private “debt collectors”, including a colonel in the South African National Defense Forces.

Breedt followed

Investigators followed Breedt to a guest house where he entered with a fake name. When ordered to arrest, the police confiscated several electronic devices that could contain information about Breedt’s lost funds. Devices taken by the police included a laptop and a “nano” crypto wallet (possibly a Ledger Nano).Breedt was not arrested, but a court order was issued, and it was decided to freeze two of the bank accounts in South Africa. Before the raid, Breedt denied any mistake and said that the error in payments was caused by a “technical problem”.

VaultAge Solutions researched

Apparently, Breedt has been trading cryptocurrencies for investors since 2018 without incident. The first events that show that something is wrong with VaultAge Solutions; it appeared in May 2020, when several investors said they received less returns than promised.

Breedt was alleged to have made changes to proof-of-payment (PoP) receipts, and hence an investor was reported to have received $ 83, while it required a maturity of $ 8,313. Another investor states that he received only $ 1,175, although the PoP receipt was shown to pay him $ 117,511.Meanwhile, PricewaterhouseCoopers was commissioned by the Central Bank of South Africa to conduct an investigation into the actions of Breedt and other crypto traders at VaultAge Solutions.

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