A German watchdog has now also acted against Karatbars, the crypto company that targeted South …

A German watchdog has now also acted against Karatbars, the crypto company that targeted South Africans via WhatsApp

Germany’s federal financial supervisory authority this week issued a cease-and-desist order to cryptocurrency company Karatbars. In June the company launched its crypto-currency product in Cape Town, where it promised clients Lamborghinis and luxury watches. SA’s Financial Sector Conduct Authority says the company targeted local consumers through WhatsApp.