Our website uses cookies to improve and personalise your experience and to display advertisements(if any). Our website may also include third-party cookies like Google Adsense, Google Analytics, and Youtube. By using the website, you consent to the use of cookies. We have updated our Privacy Policy. Please click on the button to check our Privacy Policy.

SA company charged for $30-million bitcoin fraud

SA company charged for $30-million bitcoin fraud

THE U.S. commodities regulator announced it had filed civil charges against a South African man and his company for operating a fraudulent commodity pool worth over $1.7 billion in bitcoin. The Commodity Futures Trading Commission (CFTC) said the fraud scheme, which saw the firm solicit bitcoin online from thousands of people to purportedly operate a commodity pool, was the largest it had ever pursued involving the cryptocurrency. The CFTC filed charges against Mirror Trading International Proprietary Limited and its CEO, Cornelius Johannes Steynberg. Steynberg had been a fugitive from South African law enforcement but was recently detained in Brazil on…
Read More