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South African Crypto Exchange Hits Milestone 3M Wallets, $5M Volume

News Major South Africa’s crypto exchange Luno has continued growing, having processed more than $5 million worth of crypto in August 2019. Marius Reitz, general manager for Africa at Luno, claimed that over 80 million South African rands ($5.4 million) worth of crypto has been completed on Luno’s..

Bitcoin Fraud: Aggrieved Investors Torch House of Suspected Scammer

A South African bitcoin entrepreneur allegedly involved in orchestrating an elaborate bitcoin fraud scheme has lost his home to flames, thanks to angry investors. The incident took place after news broke out that hacker had gotten access to investors’ funds and the investors stormed the office to ge..

South African Payment Gateway Drops BTC Over Fees and Network Congestion

On July 12, South African payment gateway service Payfast announced the company is dropping bitcoin core (BTC) payments due to network congestion and high fees. Payfast emphasized that BTC has a number of limitations and design flaws which makes it an “impractical substitute for cash.” Also read: G..

Mob Burns Down Purported Crypto Ponzi Schemer’s House in South Africa

News An angry mob in Ladysmith, South Africa has reportedly torched the residence of Sphelele Mbatha, known as Sgumza, a manager of alleged crypto Ponzi scheme Bitcoin Wallet. The mob was likely a collection of victims who lost money through Bitcoin Wallet, according to the report by Ladysmith Gaz..

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