About $3.6 billion worth of Bitcoin lies in doubt after a pair of South African brothers controlling a crypto platform disappeared, Bloomberg reports.

  • A Cape Town law firm has already reported the matter to the Hawks police unit following the disappearance of the brothers.
  • The disappearance of about 69,000 bitcoins, worth at least $4 billion at the April peak, would be the biggest dollar loss in a crypto industry.
  • The disappearance of the brothers could prompt further action by regulators in establishing market order in the crypto industry.
  • The incident happens after another collapse of South African Bitcoin trader, Mirror Trading International.

Daily volume of crypto-asset trading in South Africa in January exceeded 2 billion rand or $141 million.

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