Beware of cryptocurrencies warns debt expert after hack

A rapidly growing number of deeply indebted consumers are getting themselves into financial trouble by “investing” in cryptocurrencies such as Bitcoin and Ripple. Neil Roets, CEO of Debt Rescue, a debt counselling companies in South Africa, said he was amazed when the first clients started applying for debt counselling who had been driven to the […]

Big debt problems for South African cryptocurrency investors

A growing number of South Africans are getting into financial trouble by investing in cryptocurrencies like Bitcoin and Ethereum. Debt Rescue CEO Neil Roets said many South Africans have been driven to the brink of bankruptcy after buying into cryptocurrency. “We interviewed our first cryptocurrency victims towards the end of last year who wanted to […]

Crypto-currency scams on the rise in SA

Debt counselors are seeing a growing number of South Africans who have lost money gambling in crypto-currencies such as bitcoin and ripple. Some of them were victims of online scams, which resulted in their bank accounts getting raided by offshore hackers, or they were robbed by sellers who never actually delivered the digital currency after […]