South African Court Grants Order to Liquidate Mirror Trading International After Investors Fail to Withdraw Their BTC
A South African High Court recently granted a provisional liquidation order against Mirror Trading International (MTI) following an application for relief by two investors who failed to withdraw their bitcoin. According to a statement released by lawyers of one of the aggrieved investors, this provisional order paves the way for the appointment of a liquidator to take control of MTI’s assets and liabilities.
Provisional Order
The order by the Cape Town court came after the Financial Sector Conduct Authority (FSCA) reported receiving complaints from investors who failed to withdraw invested funds. The court’s decision also follows reports that Johann Steynberg, the CEO of the alleged online bitcoin scam platform, had skipped the country.