Bitcoin

Popular Radio Presenter Suspended For Alleged Ties To The Bitcoin Scam

South Africa’s national broadcaster suspended one of its employees for allegedly convincing pensioners and others to invest in a crypto-scam. More than 100 people are believed to have fallen victim to promises of very high returns to investors in the bitcoin investment scheme.

300% Return on Investment

The South African state broadcaster recently suspended one of its radio presenters, Sebasa Mogale, after a media expose suggested he may have been part of a cryptocurrency scam outfit that reportedly promised a 300% return on investment.

The decision to suspend the popular broadcaster, who also plays a role in South Africa’s popular television series Skeem Saam, was made after an investigative report by the media outlet Carte Blanche identified him as one of the masterminds behind the scam that allegedly fleeced more than 100 people.

Reports about Mogale’s suspension have been confirmed by Gugu Nutuli, South African Broadcasting Corporation (SABC), group executive responsible for corporate affairs marketing. In a statement, the executive said:

Thobela FM has taken a decision to unschedule Sebasa Mogale, (Ntshirogele) Afternoon Drive presenter, following the Carte Blanche expose. The recent broadcast raised issues regarding Mr Mogale’s personal business dealings with cryptocurrency.

Ntuli said that the SABC would “leave nothing unturned” in its investigation into Mogale’s involvement in the scam.

A Confidence Trickster

According to an expose by Carte Blanche, Mogale had used his celebrity status to lure some listeners of his radio show to invest. According to the media outlet, Mogale claimed that investors who had not been trained in personal finance management had “cashed their pensions and saved money policies.” But, his promises proved empty.

“But for at least 140 people the man they trusted to guide them through the crypto maze appears to have been little more than a confidence trickster,” reads part of Carte Blanche’s summary of the expose.

Some victims of the scam came forward to share their losses following Mogale’s suspension. Sello Bonoko is quoted in another report explaining he became a victim after he listened to Mogale’s bitcoin investment pitch that “sounded convincing.” He also said he trusted Mogale’s promises primarily because these were made on national radio. Bonoko said he lost more than $14,500 (R230,000).

A spokesperson for South African police was quoted in the report as telling Mogale’s victims that they should file complaints with law enforcement. According to him, the police cannot act until they have received the complaints in writing.

What are your thoughts on this story? Let us know what you think about this story in the comments below.

Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, author, and writer has been awarded the Zimbabwe Journalism Award. He has written extensively on the economic problems of African countries and how digital currencies can offer an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Hyperliquid 50x leverage whale is cybercriminal gambling stolen funds: ZachXBT

ZachXBT has blasted the “Hyperliquid 50x leverage whale” as “a cybercriminal gambling with stolen funds.” The whale netted a $9 million profit despite efforts by crypto traders to liquidate the position. ZachXBT has previously unmasked bad actors and identified hackers, including those behind the Bybit hack in February 2025 On-chain investigator ZachXBT says the “Hyperliquid…

ZachXBT has blasted the “Hyperliquid 50x leverage whale” as “a cybercriminal gambling with stolen funds.”
The whale netted a $9 million profit despite efforts by crypto traders to liquidate the position.
ZachXBT has previously unmasked bad actors and identified hackers, including those behind the Bybit hack in February 2025

On-chain investigator ZachXBT says the “Hyperliquid 50x leverage whale” that has attracted massive attention across X is “just a cybercriminal gambling with stolen funds.”

The on-chain sleuth’s comment came as the whale closed their high-leverage trading position, 50x, with a notable $9 million profit.

Despite efforts by crypto Twitter to marshal a liquidation for the Hyperliquid whale, the trader emerged unscathed – yet again.

Hyperliquid 50x whale a criminal – ZachXBT says

ZachXBT commented on this, revealing who the whale is and is not. He shared the investigative view via X:

“It’s funny watching CT speculate on the “Hyperliquid whale” when in reality it’s just a cybercriminal gambling with stolen funds.”

Replying to a user comment, ZachXBT noted that the criminal whale has no links to the North Korea-backed Lazarus Group. In February this year, the blockchain sleuth linked the $1.5 billion Bybit hack to the hacker group.

Some X users asked that ZachXBT names and shames the Hyperliquid whale. However, his response was:

“We’ll see, it’s just not enjoyable posting investigations on X/Twitter anymore.”

Crypto ‘hunted’ for the mysterious whale

For weeks, the crypto market has speculated on who the mysterious Hyperliquid whale may be. A hunt for their identity and efforts to drag them down surfaced.

This hunt for the trader who opened a short position worth about $450 million on Bitcoin (BTC) intensified on Tuesday.

Amid the rush to liquidate him, analysts pointed to the whale’s 40x and 50x shorting of BTC and ETH as massive. The reaction had most traders looking to wreck the whale’s position with a flurry of buying deals. In fact, according to Lookonchain, the whale had to deposit $5 million USDC “to increase margin and avoid liquidation.”

But the effort to wreck the whale ultimately failed.

This whale has closed all his positions and made a profit of $9.46M in just 8 days.https://t.co/EtI4kinRNE pic.twitter.com/TPxf6MIIqR

— Lookonchain (@lookonchain) March 18, 2025

As well as th 50x short leveraged position on Ethereum (ETH), this whale also shorted Chainlink (LINK), opening a huge $31 million position with 10x leverage. The whale has also placed short bids on GMX.

While ZachXBT clarified this whale isn’t tied to North Korea, the incident highlights the challenge the crypto community faces amid bad actor incidents.

The issue of stolen funds making it back into circulation via decentralized finance protocols remains. It also points to the overall impact of massive leverage on the market, particularly when criminals tap into high-leverage trades to gamble stolen funds.

Although this particular whale’s identity may interest the broader ecosystem, the big question going forward is how does crypto reign in this potentially impactful scenario.

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Paul Atkins SEC chair confirmation faces delay with Senate due to paperwork issues

A March 27 meeting is being considered for a committee hearing on the selection of incoming SEC chair Paul Atkins US President Donald Trump selected Atkins in December following his presidential election win Atkins previously served as an SEC Commissioner from 2002 and 2008 under former President George W. Bush The confirmation of Paul Atkins…

Donald Trump selects pro-crypto Paul Atkins to the next US SEC chair

A March 27 meeting is being considered for a committee hearing on the selection of incoming SEC chair Paul Atkins
US President Donald Trump selected Atkins in December following his presidential election win
Atkins previously served as an SEC Commissioner from 2002 and 2008 under former President George W. Bush

The confirmation of Paul Atkins as the next US Securities and Exchange Commission (SEC) chair is being delayed due to the submission of paperwork.

That’s according to Eleanor Mueller, Semafor’s Congress reporter, who posted on X. She wrote:

“Senate Banking Chair Tim Scott is eyeing March 27 for a committee hearing on Trump’s nominee to chair the SEC, Paul Atkins, I’m told. As I wrote earlier this month, the committee has been waiting for the White House to send over his paperwork.”

Scooplet: Senate Banking Chair Tim Scott is eyeing March 27 for a committee hearing on Trump’s nominee to chair the SEC, Paul Atkins, I’m told.

As I wrote earlier this month, the committee has been waiting for the White House to send over his paperwork: https://t.co/2sDebKDIAI

— Eleanor Mueller (@Eleanor_Mueller) March 17, 2025

US President Donald Trump selected Atkins to be the next SEC chair in December. This is a significant selection for Trump, as Atkins is considered a pro-crypto figure in the industry. During his election, Trump promised to reshape the regulatory landscape for digital finance and clarify cryptocurrency rules.

Mueller continued that the Senate banking committee is also planning to hold a bipartisan meeting on Friday, March 21, to discuss Atkins’ nomination.

Financial disclosure

This latest development follows from a March 3 report from Semafor. In it, Mueller detailed how the White House hadn’t produced the required paperwork to schedule a confirmation hearing for Atkins. This also included his financial disclosure given the fact that he married into a billionaire family.

In 1990, Atkins married Sarah Humphreys Atkins, whose family is linked to Tamko Building Products, a company that manufactures roofing shingles in the US. Last year, it made $1.2 billion in revenue, according to a December report from Forbes.

One former Senate Banking Committee member said: “It’s a lot to go through. But he got named so early on, so I think that’s why people are starting to be like, ‘What the hell’s taking so long?”

Atkins previously served as an SEC Commissioner between 2002 and 2008 under former President George W. Bush.

While the agency awaits the confirmation of Atkins, Mark Uyeda is the acting chair. In January, Uyeda created a new crypto task force designed to establish a clear regulatory framework for the industry.

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Metaplanet Inc. (3350.T) Stocks: Soar 12% as Bitcoin Holdings Near 8,000 BTC Milestone

TLDR

Metaplanet shares jumped 12% after buying 1,004 BTC.
The company now holds 7,800 BTC worth $712.5 million.
Metaplanet’s BTC holdings are higher than El Salvador’s.
BTC Yield hit 47.8%, showing strong treasury growth.
Bond sales and share issuance funded Bitcoin purchases.

Metaplanet Inc. shares surged 12% on the Tokyo Stock Exchange after the firm confirmed a major Bitcoin acquisition. The company revealed it purchased 1,004 BTC, increasing its total holdings to 7,800 BTC. This move lifted investor sentiment and drove the stock to its highest since February 2025.

Metaplanet Inc. (3350.T)

Bitcoin Accumulation Lifts Investor Confidence

Metaplanet’s latest purchase amounted to $104 million, with each Bitcoin acquired at an average of $97,182. Consequently, the total value of its Bitcoin treasury has now reached approximately $712.5 million. The sharp price rise came as Bitcoin crossed the $100,000 mark amid growing optimism in global financial markets.

Besides the recent acquisition, Metaplanet had earlier surpassed El Salvador’s Bitcoin holdings with a separate 1,241 BTC buy. The company bought those coins at $101,843 each, totaling nearly $129 million in value. This positioned the Tokyo-listed firm ahead of the Central American nation, which holds 6,714 BTC.

The company’s strategy to build its reserves appears deliberate and structured. CEO Simon Gerovich has stated the company’s target is to reach 10,000 BTC by year-end 2025. So far, Metaplanet has achieved 78% of this goal, indicating steady progress in line with its stated plans.

BTC Yield Growth Signals Positive Treasury Performance

The firm tracks its Bitcoin Treasury Operations using specific key indicators like BTC Yield and BTC Gain. BTC Yield reflects the percentage growth of Bitcoin held per fully diluted share over each quarter. The firm reported a BTC Yield of 47.8% from April 1 to May 19, 2025.

*Metaplanet Acquires Additional 1,004 $BTC pic.twitter.com/r86rLc7ngh

— Metaplanet Inc. (@Metaplanet_JP) May 19, 2025

Earlier, Metaplanet recorded a BTC Yield of 95.6% in Q1 2025 and 309.8% in Q4 2024. These gains help evaluate the growth in Bitcoin holdings independent of share dilution. Moreover, BTC ¥ Gain converts these results into local currency to show clearer financial impact for shareholders.

Metaplanet has used these metrics to show the effectiveness of its Bitcoin strategy. BTC Gain helps isolate real growth, while BTC ¥ Gain translates that into yen terms. This system supports transparency and aligns with U.S.-style capital market disclosures.

Capital Markets Activity Expands with New Share Issuance

To support its Bitcoin purchases, Metaplanet completed several capital market moves. On May 13, the firm issued $15 million in zero-coupon bonds to EVO FUND, maturing in November 2025. The proceeds funded early redemptions of prior bond series.

Additionally, the company completed early repayments for $25 million and $21.25 million bonds issued earlier in May. These redemptions were financed through exercised stock acquisition rights. The moves ensured that the firm maintained balance sheet flexibility while expanding its crypto reserves.

Between May 1 and May 16, the firm issued over 94 million new shares through exercised acquisition rights. The total number of issued shares stood at 593.2 million as of May 16. This expansion allowed the company to keep up with its aggressive Bitcoin treasury strategy.

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Yasmin Werner

Yasmin is a crypto content analyst and writer with over 2 years of experience. She has a strong understanding of the crypto market and blockchain technologies. As an avid trader who stays updated on the latest trends and news, Yasmin delivers insightful and informative content.