Mirror Trading is a now-defunct fraudulent investment platform. It is said that it has debts of more than 129 . dollars, and these debts have not been declared before.

The whereabouts of the debtor is unknown

The liquidator of the collapsed South African Bitcoin Ponzi scheme (Mirror Trading International, MTI) recently issued a statement stating that unknown owed the plan up to 129.6 million U.S. dollars (2.07 billion rand).

According to a report by Moneyweb, the liquidator’s preliminary also revealed that MTI’s assets were worth more than US$190 million. However, the report stated that the liquidators admitted that they still need to conduct more investigations.

These claims against MTI occurred after the liquidators confirmed that they had successfully applied for the liquidation of JNX , which was allegedly controlled by the plan’s former CEO, Johann Steynberg.

As explained in the report, Steynberg and his wife Nerina reportedly used JNX Online to buy and sell Bitcoin. The same company was also used to make to MTI’s creditors and Nerina.

Legal action options

According to the report, the liquidators believe that legal action may be required-this allows them to investigate fraudulent claims against MTI. In addition to the proposed legal actions, the report also stated that “crypto experts” have been appointed to assist in the quantification and identification of claims obtained from the MTI back-office platform.

Before encountering legal and regulatory issues, MTI positioned itself as a legal Bitcoin investment platform with approximately 300,000 investors. However, the liquidator’s survey results show that the number of is actually much lower than this number.

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At the same time, Moneyweb’s report stated that the liquidator will continue to “investigate the circumstances that led to the closure of MTI in accordance with Section 417 and Section 418 of the Company Law.”

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