Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-00922
Documentation absent — exchange custody (2021)
BlockedCase description
AfriCrypt, a South African Bitcoin investment platform, allegedly disappeared in June 2021 with an estimated 69,000 BTC worth $3.6 billion. The founders, Raees and Ameer Cajee, claimed a hack had occurred and asked clients not to report to authorities 'to allow recovery.' Subsequent investigation found no evidence of a hack and no documentation of actual Bitcoin custody. South African courts froze assets connected to the founders.
Custody context
| Stress condition | Documentation absent |
| Custody system | Exchange custody |
| Outcome | Blocked |
| Documentation | Unknown |
| Year observed | 2021 |
| Country | South Africa |
Structural dependencies observed
What this illustrates
Nobody had written down how to get back in. That knowledge existed only in the owner's head. Access was not recoverable.
Outcome interpretation
Access was not possible under the reported conditions.
Source
Publicly Reported
Evidence type
News article
Evidence link
Related cases involving documentation absent
This archive documents observed custody survivability failures. It does not attempt to document all Bitcoin losses or security incidents.
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Framework references
Where Bitcoin Custody Intersects Legal and Fiduciary Authority
Where custody creates gaps in estate planning, fiduciary duty, and professional responsibility.
Professional Scope Boundary Matrix
What each professional or product covers, what they do not, and where gaps form between them.
The Independent Assessment Layer in Bitcoin Custody
How independent diagnostic layers emerge when multiple parties depend on shared infrastructure.
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