The protest rallies were organized by fire-pistol-bitcoin entrepreneur Sphalele “Sguma” at home in Mabata, after which the “Ponzi” investment scheme collapsed, “said Ladysim Gazeti.
Mbatha’s company, Bitcoin Wallet, awarded investors 100% turnover in South Africa’s investment in cryptography. Before the closure of the operation on July 4, Mbatha was estimated to have R2 million more than 140,000 US dollars a day in cash.
On July 9, Mbatha appeared in Nqubeko FM Ladysmith to explain that some investor accounts were compromised by phishing scam. Earlier on the radio appearance he said that Bitcoin bags “no cash payout out.”
That evening, the rumors spread by social media were arrested from a 200-person meeting in front of Lizimime Police Station, which demands the Bekovian-level manager. The tensions were high, as investors were saying that the company could not connect to Mbatha. One investor did not ask people:
The following morning, reportedly, Mbatha was not busy because the police “only act if investors open the case of the Bitcoin bags manager.”
On Wednesday afternoon, another people close to Mbatah’s home were supposedly talking to the manager. After house ignition, TimesLIVE talked to an anonymous person on the spot who said that angry investors were looking for vigilante justice.