Bitcoin trader Mirror Trading placed under provisional liquidation after FSCA warnings
The Stellenbosch-based bitcoin trading scheme, which has been called a scam and a Ponzi scheme, may have its property seized
The Cape Town High Court granted a provisional liquidation order against Mirror Trading International (MTI) on Tuesday after two urgent applications last week brought by clients of the bitcoin trading operation that is said to have received about R9.45bn from investors.
The cases against the Stellenbosch-based trading outfit, which had been described as a scam and a Ponzi scheme by critics, were brought by investors who found themselves unable to access their funds. According to the provisional liquidation order, the sheriff of the court has been ordered to attach all MTI’s property in all provinces and provide an inventory to the master of the court...