WORDS ON WEALTH:

Investing in cryptocurrency is risky. If you are simply buying it and storing it, awaiting a chance to sell it at a profit, that is risky enough, because the prices are so volatile. But if you use a platform with doubtful credentials that uses crypto it has bought on your behalf to trade or invest, that is so risky it is scary. And when such a scheme offers you a cloud-cuckoo-land return of 10% a month, and your greed completely overpowers your common sense, then, I’m sorry to say, you deserve to lose your money.

The Africrypt scam, which has been in the news over the last week or so, follows on the heels of last year’s Mirror Trading International debacle. In both, billions of rands of investors’ money simply vanished into the ether, which is to say the money now lies safely in some crook’s cryptocurrency wallet and is virtually impossible to trace. (That is the allure of crypto for criminals: it can bypass payment systems,…

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