1,200 BTC belonging to Mirror Trading International returned to South African Liquidator by a Forex Broker

By: Dickson Arinze

April 2, 2021 4:21 AM

A recent report suggests there could be a glimmer of hope for MTI victims after it was reported that a forex broker transferred bitcoins belonging to Mirror Trading International to a South African liquidator.

The broker from FX Choice transferred a total of 1,200 BTC which according to the report has been sitting on Mirror Trading International account, to the appointed liquidator after the Financial Sector Conduct Authority (FSCA) sanctions the transfer.

According to reports from media in South Africa, the bitcoins has been sitting in MTIs account on FX Choice dating back to June 2020. In August 2020 it was reported that FX Choice had blocked the account of MTI after they carried out an investigation which revealed various compliance concerns.

On March 29, 2021. A FX choice representative confirms the transfer and said:

We can confirm the transfer has now been completed and we hope this matter ends here.

However, according to the statement made by FX Choice confirming the transfer, the brokerage firm doesn't disclose the actual number of bitcoins that has been sent to the assigned liquidator. Nonetheless, Brandon Topham, head of investigations and enforcement at FSCA revealed during a podcast that 1,200 BTC has been transferred directly to the liquidator.

Mirror Trading International collapse in late December 2020 provoke two investors who was unable to withdraw their bitcoin. Approaching a South African seeking relief. The court ruling went in the victims favour as the they assigned a liquidator.

As previously reported by Coinnewsafrica, MTI was tagged as the biggest crypto scam of 2020. The 1,200 BTC is but only a fraction of what we as raked in by Mirror Trading International.