RATE Group | Bitcoin Wallet investors anxious for news of money after incurring huge debts
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Bitcoin Wallet investors anxious for news of money after incurring huge debts

14 Jul Bitcoin Wallet investors anxious for news of money after incurring huge debts

Posted at 09:53h in Bitcoin News by

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Concerned about their ‘investments’ in Bitcoin Wallet, hundreds of people spent hours waiting to find out about their money. Picture: Supplied
Durban – A 24-year-old Ladysmith man who took out a R150 000 loan from Capitec to invest in an alleged Ponzi scheme trading as Bitcoin Wallet says tough times lie ahead as he faces repayment instalments he can hardly afford.

The man from Tsakane township who chose to remain anonymous said when he first heard of the investment opportunity, he was sceptical but was won over by videos of hard cash circulated on social media.

The scheme was managed by Sphelele ‘Sgumza’ Mbatha, now said to be on the run from locals for fear of mob justice.

“I was convinced when a friend who invested R80 000, in three weeks collected R160 000,” he said.

“I was impressed and invested R1 000. Upon receiving R2 000 within weeks I decided to invest a large sum.”

On July 1 he took a bag full of cash to the Bitcoin Wallet offices, where scores who…

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