An Alleged $16M Crypto Scam’s CEO Declared Bankrupt

VaultAge Solutions CEO has been found by South African specialists and tracked by financial specialists. Willie Breedt, a South African national accused for taking up to $16.3 million from around 2,000 financial specialists by means of his VaultAge Solutions conspire, has supposedly been constrained into insolvency by a nearby court.

As per an ongoing report from News24, the sequestration request was started on July 3 by Simon Dix perhaps the biggest financial specialist, who endowed Breedt with 7.5 million South African rand, or $440,000.

VaultAge Solutions was established in 2018, promising week after week returns on client stores through crypto mining and exchanging and accepting deposits beginning from $50. The plan’s speculators have supposedly gotten just 1% of anticipated increases.

Before seeking isolation around fourteen days prior, the VaultAge administrator opened an instance of terrorizing with police in Jeffreys Bay. A gathering of obligation authorities recruited by enraged financial specialists followed him down at a visitor house in the Silver Lakes Estate in Pretoria, which he set up for utilizing a fake name. Past reports recommended that VaultAge CEO fled the nation for Mozambique back in December 2019.

Not long after the sequestration request was in truth, South Africa’s Directorate for Priority Crime Investigation, known as “the Hawks,” attacked the guesthouse, appropriating a PC and a Ledger Nano crypto hardwallet which might contain a portion of the missing assets. As per News24, Breedt has not been captured. Also, the South African Reserve Bank has purportedly relegated PwC to lead an examination concerning VaultAge and all operators who may have performed exchanges for its sake.

Breedt’s financial balance, which prior held $3.15 million, was apparently emptied not long ago. is a Blockchain-based financial ecosystem including a cryptocurrency exchange platform, Cloud Services, PAMM Model Trading, Payment Gateway.