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CEO of Alleged $16M Cryptocurrency Scam Declared Bankrupt

Willie Breedt, a South African national blamed for taking up to $16.3 million from around 2,000 speculators by means of his VaultAge Solutions plot, has apparently been constrained into chapter 11 by a neighborhood court.

As per an ongoing report from News24, the sequestration request was started on July 3 by Simon Dix — perhaps the biggest speculator, who depended Breedt with 7.5 million South African rand, or $440,000.

VaultAge Solutions was established in 2018, promising week by week returns on client stores through crypto mining and exchanging and tolerating stores beginning from $50. The plan’s financial specialists have supposedly gotten just 1% of anticipated additions.

It was additionally settled that Breedt didn’t book into the guesthouse under his own name however that of a companion, perhaps to attempt to shroud his personality.

Not long after the request was allowed to Dix, the sheriff of the court, helped by the police, the Hawks and a group of expert cryptographic money measurable specialists, struck a house in Silver Lakes where Breedt had supposedly been covering up since mid-June.

They served the court request on him while he was with a clinical specialist companion who additionally dwells in Silver Lakes.

During the strike, various electronic gadgets, among others a PC and nano stick, were reallocated.

Crypto Scam Owner Arrested

The nano stick is a safe stockpiling gadget which may contain data of where the bitcoin and different digital forms of money Breedt exchanged may be.

Cryptographic money is normally kept in a crypto wallet, to which just the proprietor approaches.

The gathering of financial specialists were prior additionally conceded a court request to freeze two South African ledgers having a place with Breedt and VS.

Regardless of bits of gossip that Breedt was captured on Friday, News24 affirmed this was false.

A gathering of obligation authorities recruited by rankled financial specialists followed him down at a visitor house in the Silver Lakes Estate in Pretoria, which he set up for utilizing a phony name. Past reports proposed that VaultAge CEO fled the nation for Mozambique back in December 2019.

Not long after the sequestration request was in truth, South Africa’s Directorate for Priority Crime Investigation, known as “the Hawks,” struck the guesthouse, appropriating a PC and a Ledger Nano crypto hardwallet which might contain a portion of the missing assets. As indicated by News24, Breedt has not been captured.

Moreover, the South African Reserve Bank has supposedly alloted PwC to lead an examination concerning VaultAge and all operators who may have performed exchanges for its sake.

Breedt’s financial balance, which prior held $3.15 million, was purportedly purged not long ago.

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