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Mirror Trading International (MTI), declared a pyramid scheme by the South African High Court, was a cryptocurrency trading platform promising automated trading services with significant returns. MTI was masterminded by Johann Steynberg, who claimed to use an artificial intelligence bot for its trading activities. MTI faced intense scrutiny and legal challenges, particularly from South African authorities, who alleged that it was operating as a fraudulent scheme. MTI's unraveling led to its eventual collapse, the arrest of key figures, and significant financial losses for many investors. The scheme involved 100,000 people from 140 countries.
Mirror Trading International (MTI), declared a pyramid scheme by the South African High Court, was a cryptocurrency trading platform promising automated trading services with significant returns. MTI was masterminded by Johann Steynberg, who claimed to use an artificial intelligence bot for its trading activities. MTI faced intense scrutiny and legal challenges, particularly from South African authorities, who alleged that it was operating as a fraudulent scheme. MTI's unraveling led to its eventual collapse, the arrest of key figures, and significant financial losses for many investors. Th...
