8,000 BTC from South African pyramid Mirror Trading Internatio | Top DeFi

8,000 BTC from South African pyramid Mirror Trading International found

The South African cryptocurrency pyramid Mirror Trading International (MTI) has finally been liquidated. An investigation found another 8,000 BTC embezzled by the pyramid's founders.

This week, the Cape High Court approved the final liquidation of MTI. In December, the company underwent temporary liquidation after numerous customer complaints about fraud. In January, South African regulators officially shut down MTI.

Investigators found 8,000 BTC collected by MTI's organizers, worth about $268 million in addition to the 1,281 BTC received from broker FX Choice. According to Moneyweb, liquidators believe they will be able to trace the rest of the 29,000 BTC coins collected by MTI. The company's liquidators will return to court on Sept. 8 to plead that MTI should be recognized as a Ponzi scheme.