A man thought to have been behind an alleged Bitcoin Ponzi scheme has had his house looted and burned to the ground in South Africa, reports Times Live. Sphelele “Sgumza” Mbatha was reportedly the operator of “Bitcoin Wallets,” a scheme which promised investors a 100 percent return on their investment after 15 days.
The arson came a week after Mbatha admitted to the Ladysmith Gazette that he didn’t have any more cash to pay out, and said that investors would need to submit their details online to receive their payouts. He also claimed to not be the owner of the company, despite having registered the business “Bitcoin Wallets Achievers” the previous week. The following week he then said that hackers had infiltrated the website and had...