Africrypt Founders Reportedly Return to South Africa After Years Abroad

Raees and Ameer Cajee, the brothers behind the failed cryptocurrency investment platform Africrypt, have reportedly returned to South Africa and are currently living in a gated community in KwaZulu-Natal, according to an investigative television report aired this week ^[1].

The pair fled South Africa in 2021 after informing investors that Africrypt had been hacked and its holdings stolen. They subsequently traveled through several countries including the Maldives and Dubai. Ameer Cajee was briefly detained in Switzerland later that year while allegedly accessing safe-deposit boxes containing hardware wallets ^[1].

Africrypt operated from 2019 to 2021, offering investors monthly returns of up to 13% through what was described as an AI-powered proprietary trading system. The platform accepted both South African rand and cryptocurrency deposits ^[1].

While initial reports suggested losses as high as $3.6 billion, subsequent investigations estimated the actual figure between $40 million and $50 million. One investor claims losses of approximately $50 million, though legal papers have reportedly not been served due to the brothers' security arrangements ^[1].

Journalists attempting to contact the Cajees at multiple locations, including the Zimbali Estate, were unable to reach them directly due to private security measures ^[1].