MTI Bitcoin ‘trading’ scheme leads to wine, antidepressants and tears Ina Opperman (Photo by JACK GUEZ / AFP) The collapse of Mirror Trading International (MTI) appears to have caused financial destruction in many small communities in South Africa.
Mirror Trading International (MTI), which was started in April 2019, collapsed after its CEO Johann Steynberg fled the country with over R5 billion worth of investors’ Bitcoin, and some ‘investors’ still believe that Steynberg will ‘do the right thing’ and pay out their money.
The Financial Sector Conduct Authority (FSCA), however, says there was ‘negligible trading from the so-called ‘copy trading service’, and 99% of funds were never invested’ as far as they could see.