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

11 Jul 2019

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

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 Gazette on July 10.

The local police have been investigating an unnamed Ponzi Scheme in Ladysmith, as reported by IOL. According to the report, however, Bitcoin Wallet minimally appears to have made get-rich-quick promises to prospective investors.

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