Monday, January 10, 2022

Crypto scammer Johann Steynberg busted

Johann Steynberg, a South African behind Ponzi scam Mirror Trading International (MTI) was arrested in Brazil. He stole more than 29,000 bitcoins. (Current price $41k) Brazilian cops learned Steynberg was in the country after escaping South Africa in 2020 when his scam imploded. MTI marketed itself as an investment platform that guaranteed returns of 10% per month.
At its peak, MTI had 170k customers around the world with over 1b of assets under management.

Johann Steynberg initially blamed Russian hackers. He disappeared shortly after.
It was over quickly. When customers began reporting that MTI had blocked their balances, authorities launched investigations.