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Further 8,000 MTI Bitcoin Traced as Firm Is Put Into Final Liquidation: Report
Liquidators will return to court in September to argue MTI should be declared a Ponzi scheme.
Updated Sep 14, 2021, 1:20 p.m. Published Jul 5, 2021, 12:36 p.m. 1 min read
Mirror Trading International (MTI), the collapsed cryptocurrency trading firm, was placed into final liquidation and a further 8,000 bitcoin have been found, according to a Moneyweb report.
- MTI was placed in final liquidation by the Cape High Court this week, Moneyweb said. It was placed into provisional liquidation in December, after allegedly lying to investors and operating illegally.
- The 8,000 bitcoin traced, valued about $268 million at Monday’s prices, are in addition to 1,281 bitcoin recovered from the broker FX Choice.
- The liquidators say they believe they will be able to track down more of the estimated 29,000 bitcoin that flowed into MTI, according to Moneyweb.
- The firm was declared fraudulent by Texas state regulators in July 2020 and a probe by South Africa’s Financial Services Conduct Authority concluded MTI deliberately misled investors and operated a financial service without a license.
- The liquidators will return to court on Sept. 8 to argue that MTI should be declared a Ponzi scheme, Moneyweb said.
Read more: Liquidators of South African Bitcoin Trading Club Request Greater Probe Powers
Higit pang Para sa Iyo
The S&P 500 posted its longest weekly winning streak since 2023 and Brent oil stabilized near $92 on US-Iran ceasefire hopes. The biggest cryptocurrencies still drifted lower, with Hyperliquid's HYPE the only major name to rally.
Ano ang dapat malaman:
- U.S. stocks and oil rallied, with the S&P 500 logging a ninth straight weekly gain and Brent crude hovering near $92 a barrel on hopes for a U.S.-Iran ceasefire extension.
- Major cryptocurrencies lagged the macro rally, with bitcoin, ether and other large-cap tokens falling around 2% to 6% amid cooling...
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