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If confirmed, Africrypt's losses would rank among the biggest crypto losses yet. The letter, reviewed by Reuters, said Africrypt had halted operations and had "begun the process of attempting to retrieve stolen funds. The firm did not immediately respond to a request for comment on how it reached that figure. Reuters could not reach Africrypt for comment. Calls to Cajee's mobile phone went to voicemail and he did not respond to text messages.

Periodically, Coinbase added new crypto assets to those that could be traded through its exchange, and the market value of crypto assets typically significantly increased after Coinbase announced that it would be listing a particular crypto asset. The statutory maximum sentences are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendants will be determined by a judge. Williams praised the investigative work of the FBI.

Williams further thanked Coinbase Global, Inc. The allegations in the Indictment are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

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