Svmuu News: Geordin Hill-Lewis, mayor of Cape Town, South Africa, recently participated in a special nighttime operation by the city police targeting individuals who claim to be cryptocurrency and foreign exchange traders and who drive luxury vehicles with fake or unregistered license plates. During the operation, police seized a silver Mercedes-AMG GLE—valued at over $153,000 and falsely registered as a white BMW—and arrested a driver operating an unregistered BMW 3 Series. Local officials stated that fraudulent cryptocurrency gangs use TikTok to flaunt their assets and lure victims into bogus investments by using luxury cars as status symbols. A report released in March revealed that corporate-style fraud hubs operated by international criminal groups have formed clusters in Cape Town and Johannesburg, using deepfakes, cloned apps, and fake investment platforms to carry out scams. The illicit funds are typically laundered through cryptocurrency wallets, money mules, and physical assets such as unlicensed luxury vehicles. (Bitcoin.com News).