09 Sep 2022

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Almost 7 000 bitcoin still missing in SA crypto scheme

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Jan Cronje
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Johann Steynberg was arrested by Brazilian authorities in December 2021.
Johann Steynberg was arrested by Brazilian authorities in December 2021.
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Liquidators probing the accounts of disgraced South African bitcoin investment scheme Mirror Trading International (MTI) say they are still searching for 6 853 "missing" bitcoin, with a rand value of around R2.7 billion.

Despite "extensive" investigations by six liquidators, hired forensic experts and SA's financial regulator, no one has yet been able to say what happened to the cryptocurrency. 

Liquidators started searching for bitcoin invested in MTI after the company was placed into provisional liquidation in late 2020. They were able to recover 1 281 bitcoin from FXChoice, an online forex broker which froze MTI's assets in June 2020. 

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