Bitcoin scheme MTI placed in liquidation
Collapsed bitcoin scheme Mirror Trading International (MTI) was placed in final liquidation this week by the Western Cape High Court, according to Moneyweb.
This comes as liquidators revealed they had managed to track down roughly 8 000 additional bitcoin, on top of the 1 281 bitcoin recovered from Belize-based broker FX Choice and sold for about R1.1bn.
An additional 8 000 bitcoin at current market prices is worth about R4bn, notes the report.
Liquidators believe they will be able to track down more of the estimated 29 000 bitcoin that flowed into MTI.
Joint liquidator Riaan van Rooyen urged MTI members to lodge claims with the liquidators, saying they need not fear that they will be required to pay contributions to the insolvent estate.
The liquidators return to court on 8 September to argue that MTI should be declared a Ponzi scheme.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
