The Bitcoin Inspector

All about bitcoin

  • Home
  • Archives
  • About

27 Jan 2021

Scams are driving South African authorities to regulate crypto trading

Scams are driving South African authorities to regulate crypto tradingSouth African regulators are seeking to exercise more control over cryptocurrency trading following the collapse of what was alleged to be the largest Ponzi scheme the country has ever seen. Self-proclaimed Bitcoin ( BTC ) trading firm Mirror Trading International was placed in provisional liquidation in December, as investors tried and failed to withdraw their funds. The firm claimed to have attracted over 260,000 memberships worldwide, handling a reported 23,000 Bitcoin — a sum now worth in the region of $716 million. However, an investigation by the Financial Sector Conduct Authority revealed the firm kept no accounting records, nor any kind of user database. The company’s management claimed to have been misled by CEO Johann Steynberg, who they say may have fled to Brazil. Lawyers f

Related Posts:

  • Ex-NBA Star Allegedly Dupes African Firm in $800,000 Bitcoin Scam
    Ex-NBA Star Allegedly Dupes African Firm in $800,000…
  • Bitcoin’s failing price could be caused by $2B Chinese Ponzi scheme dumping its crypto
    Bitcoin’s failing price could be caused by $2B…
  • $50-million cryptocurrency scam cripples South African investors
    $50-million cryptocurrency scam cripples South…

Filed Under: Scams

Learn how to make money with bitcoin

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Copyright © 2021 · BitcoinInspector.com ·