Bitcoin scam in South Africa and threat of lawsuits

The crypto sector has taken another turn lately. With markets falling and investors fearing the loss of capital, bitcoin is far from sinking into oblivion. In South Africa, a radio presenter is accused of bitcoin scam and the latter threatens to take legal action against his detractors.

Mogale and the bitcoin scam… A case to follow

Bitcoin seems to be deciding to stay in the news. For many years, investors have sworn by him. But as the markets fall, his notoriety grows rapidly. For good or bad, which is certain, we talk about it! For some people, this crypto asset is the key to financial independence. But when we see all the stories that revolve around him, we are tempted to question him.

The price of BTC has defined a motley crowd since its inception. However, institutions find it difficult to trust and adopt it. Why ? Because of the lack of regulation. More and more institutions are talking about it and showing their hostility. However, no decision has yet been made. Near-freedom does not have the flagship crypto with many consequences, among which the bitcoin scam.

Sebasa Mogale, a successful serial actor and radio presenter, is accused of fraud by investors. Indeed, the latter would have launched an investment program in bitcoins and would have defrauded the money of its members. The latter denies any accusation and threatens to bring the case to court. And yet, according to information received by the police, the latter would have indeed collected this money. The investigation is currently underway and an attorney general will soon decide what to do next.

    bitcoin scam south africa Sebasa Mogale
Sebasa Mogale

This is not the first time that we talk about bitcoin scam. Indeed, there was a similar case in 2021 concerning a teenager who allegedly defrauded 2.5 million euros from his room. Many other cases exist and all of these make bitcoin vulnerable. The misuse of crypto tarnishes its reputation and scares off the holders of the tokens.

Accusations without evidence, should we take them into account?

Accusations of bitcoin scams have been raging since the cryptocurrency explosion. Truth or allegation? Nobody knows. When an industry is booming, it becomes common to hear these kinds of things. More and more people want to acquire tokens and do so by all means. With the high price of the flagship crypto, people with bad intentions are tempted to do illegal things to get hold of it and make money.

In Mogale’s case, he denies all the charges and insists it is defamation. According to Lesedi Mphahlele, his legal representative, these complaints only tarnish his reputation and slander him. He may invite you to prove that his client has received this money. For him, those who complain have not understood how the company works. According to him, Mogale is a network marketer who did not force anyone to join his program.

While the accused defends himself tooth and nail, the plaintiffs do not drop the case. The alleged victims insisting that he did indeed screw them over. The amount of alleged losses amounts to almost 50 thousand dollars. According to the defendant’s proposals, he does not recognize any fraud since everyone who has joined his program has full access to each of their accounts.

As the flagship crypto faces a historic drop in its price, it also finds itself embroiled in fraud cases. Mogale denies all bitcoin scam charges brought against him. However, this does not end the debate. Indeed, bitcoin has already been mentioned several times in such cases and the repetition becomes frightening. What measures should be taken to deal with this phenomenon?

Source: bitcoin.com

Receive a digest of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!

User Picture

Eddy Senga

The world is changing and adaptation is the best weapon to survive in this undulating universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. In order to share my experience and make known a field that fascinates me, nothing better than writing informative and relaxed articles at the same time.

Leave a Comment