Creditors of Collapsed South African Crypto Firm Vote to Accept Offer to Resuscitate the Company

Creditors of Collapsed South African Crypto Firm Vote to Accept Offer to Resuscitate the Company


Creditors of a South African crypto trading firm, Africrypt, have agreed to a proposal recently tabled by an unnamed investor who is seeking to resuscitate the collapsed company.

Africrypt’s Intellectual Property

In addition to paying $4 million — which will be used to pay off some of the crypto firm’s debts — the investor is also willing to part with $1 million which will go towards the acquisition of 51% of Africrypt’s shares and the company’s intellectual property rights.

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As previously reported by Bitcoin.com News, an unnamed investor had proposed injecting a total of $5 million in the now-defunct crypto company. While a few of the creditors had voiced their disapproval of the investor’s proposal to have criminal charges against Africrypt’s two young directors dropped,

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