Banxso
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A South African trading platform that collapsed due to deepfake trading fraud, leading to a substantial financial penalty and liquidation.
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The African Startups That Imploded in 2025: Fraud, Missing Millions, and Public Meltdowns
Tech In Africa - Dec 16, 2025
Thepeer, a Nigerian fintech, shut down after co-founder Sultan Akintunde alleged $1.2 million in missing funds due to fraud. Paystack's co-founder Ezra Olubi was fired over misconduct allegations, raising questions about reputational risk and termination processes.
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