Bitcaw Buying and selling Firm has refuted all hyperlinks to an alleged Bitcoin rip-off being run by an entity recognized by the Hawks as BTC International.
On 25 Might 2018 the Hawks launched an announcement saying that it had launched an investigation right into a Bitcoin fraud rip-off that had price South Africans nearly R1 billion. The SAPS unit recognized the alleged perpetrators as “Bitcaw Buying and selling Firm, generally referred to as BTC International”.
Nonetheless, Bitcaw Buying and selling has now hit again on the police unit, saying that it’s on no account affiliated with BTC, and requested that the assertion be retracted.
“Whereas we respect that the Hawks are investigating BTC International and the circumstances across the ‘funding alternative”’ which folded earlier this 12 months, we should make clear that BitCaw Buying and selling is on no account associated to BTC International. Naming them as the identical firm has already had important implications for the reliable and revered BitCaw Buying and selling,” stated Bitcaw MD, Andrew Caw.
In response to Caw, BitCaw Buying and selling is a reputable operation that has assisted a whole lot of individuals with shopping for and promoting Bitcoin, whereas educating its purchasers on the fundamentals of the cryptocurrency.
“BitCaw Buying and selling doesn’t handle or commerce with third celebration cash or supply any sort of funding returns. BitCaw has publicly taught purchasers tips on how to keep away from on-line scams,” Caw stated.
BTC International, in the meantime, was a questionable ‘Funding firm’, primarily based on a US Greenback funding, fronted in bitcoin by a comparatively unknown man primarily based in the US, he stated.
It was reported on Monday (28 Might) that Bitcaw had despatched a letter of demand to the Hawks, searching for for the unit’s assertion to be withdrawn, or to have the matter taken to court docket.
In response to Caw, the Hawks nor any of the investigators concerned had ever made contact along with his firm, and to-date, nonetheless has not, as a substitute selecting to make statements to the media.
“For a small enterprise constructed on belief and status this has triggered important harm to us. As well as, this motion has successfully shut down our new product launch which we’ve needed to shelve after our monetary companies supplier (FSP) companion has been pressured by their inside insurance policies to withdraw their help,” he stated.
“Our authorized crew have requested that the Hawks retract the wrong reference to BitCaw Buying and selling in relation to their investigation, however the officers have apparently refused, once more to the media with out speaking with us immediately.”
Chatting with Fin24, Hawks spokesperson Brigadier Hangwani Malaudzi stated that the unit has acquired Bitcaw’s letter of demand, however wouldn’t retract the assertion. The unit, he stated, will look ahead to the courts to make a ruling on the matter, moderately than retract an announcement prematurely.
“So far as we’re involved, our statements on the matter nonetheless stand until we’re satisfied in any other case,” Mulaudzi stated.