The victims of the financial pyramid Bitcoin Wallet set fire to the house of its organizer

The victims of the Bitcoin Wallet financial pyramid set fire to the home of Sphelele Mbatha, the campaign organizer, after they stopped receiving payments.

Mbata was previously a medical professional. He decided to organize an investment scheme on the Ponzi principle, promising investors 100% return on investment in South African rand. The company was named Bitcoin Wallet and, as expected, was supposed to invest the money of depositors in the cryptocurrency. Before you stop paying money to investors, what happened on July 4, Mbata collected more than 2 million rand or $ 140,000 per day.

On July 9, he announced on the radio broadcast of the city of Ladysmith that some investors had hacked into the accounts of phishing. Earlier, he said that Bitcoin Wallet “no money for payments.”

The same evening, information appeared in local social networks that Mbata was arrested. A crowd of 200 people gathered near the local police station to look at the financial pyramid manager. However, they did not succeed.

One of the investors wrote
on Twitter: “Please don’t kill him now, he has my money.”

The next morning, the media began to report that Mbatu was in fact no one arrested. The police could act only on the basis of statements by investors.

On Wednesday afternoon, the crowd gathered again, already near the house of Mbaty, in order to “talk to him”. Local newspaper reportedthat in the end they decided to make a mob law and set fire to the house of the organizer of the financial pyramid.

At the moment, there is no way to estimate the scale of investor losses Bitcoin Wallet. There is only information that at some point Mbata stopped accepting investments of less than 5,000 rand (about $ 350).

The police asked investors to report on the amounts they have invested. Now Mbata is hiding from justice.