An unknown investor has proposed to acquire a 51% stake in Africrypt — the collapsed cryptocurrency investment company — for a purchase price of $5 million.
According to a report by Moneyweb, Africrypt creditors are set to vote on the compromise offer on November 12, 2021.
As previously reported by Bitcoin.com News, Africrypt collapsed when the firm’s two young directors, Raees and Amir Cajee, reported a breach of the company’s systems. Soon after alleging that Africrypt was the victim of a hack, the Cajees disappeared along with investor funds.
However, as part of the compromise offer that has been presented to creditors, the investor will pay $4 million which will go towards the payment of the creditors’ claims against Africrypt.
While some of the creditors are thought to be in favor of accepting the offer, the report suggests that some are not happy with a deal that allows the Cajee brothers to emerge unscathed.
Still, another creditor suggested the offer is likely to receive the required support because it is the only scenario where creditors have a realistic chance of getting something.
Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
The company says that the Bitcoin mega mining farm, whose construction started last month, will be built in the province of Cordoba, in association …