South Africa had the biggest Bitcoin scam in the world in 2020 The 2021 Crypto Crime Report, compiled by Chainalysis, revealed that South African based Mirror Trading International (MTI) was by far the biggest Bitcoin scam in the world in 2020. MTI presented itself as a passive income source, promising investors consistent daily returns of 0.5% which translates to yearly gains of 500%. To achieve such phenomenal returns, the MTI leadership claimed to have a “trading bot” powered by artificial intelligence. This was, of course, not true. One of the driving forces behind MTI was its multilevel marketing referral system which encouraged investors to recruit other people for the scheme. From the outset, many authorities warned that it was a scam which would ultimately lead to investor
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