Timeline of Mirror Trading International:
2019: MTI was launched in
South Africa as an automated bitcoin trading platform, offering significant returns to investors through a trading bot. The liquidators of MTI played a crucial role in the investigation and fund recovery efforts of the Ponzi scheme. Here are some ways in which they aided in these efforts:
Recovery of Funds: The liquidators successfully recovered 1,281 BTC (worth approximately R1.05 billion) from the sale of BTC held by Belize-based broker
FXChoice. This recovery was a significant step towards compensating the victims of the scam.
Identification of Possible Debtors: The liquidators conducted preliminary investigations and identified "possible debtors" with claims totaling R2.07 billion. This process involved examining the assets and affairs of individuals and entities associated with MTI, including JNX Online, a company controlled by former MTI CEO Johann Steynberg and his wife Nerina.
Investigation of Assets and Affairs: The liquidators are actively investigating the assets and affairs of JNX Online, which was used by Steynberg to buy and sell BTC and to pay creditors and employees of MTI. This investigation aims to uncover any potential fraudulent activities or hidden assets that could be used to compensate the victims.
Collaboration with International Law Enforcement Agencies: The liquidators have teamed up with international law enforcement agencies, including the
US Federal Bureau of Investigation, to assist in the recovery of funds. This collaboration enhances the chances of locating and retrieving assets that may have been moved or hidden outside of South Africa.
Appointment of Crypto Specialists: To aid in the quantification and identification of claims, the liquidators have appointed crypto specialists to analyze the information obtained from MTI's back-office platform,
Maxtra Technologies. These specialists possess the expertise needed to navigate the complexities of cryptocurrency transactions and trace funds. == See also ==