A Forex Broker Sent 1,200 BTC to South African Liquidator Belonging to Mirror Trading International

The Transfer Has Been Confirmed

The 1,200 BTC had been trapped in MTI's account with FX Choice since June 2020, according to a South African media source. In August 2020, Bitcoin.com News claimed that FX Choice had suspended MTI's account following an inquiry of the bitcoin trading business that revealed “compliance problems.” A representative of FX Choice now verifies the transfer of monies in a new statement dated March 29, 2021. According to the spokesman,

The FSCA has given the go-ahead for MTI's frozen money at FXChoice to be distributed to the designated liquidators. We can confirm that the transfer has been accomplished and that the situation is now closed.

Recovery is negligible

Meanwhile, the representative of FX Choice fails to mention the exact quantity of bitcoins delivered to the liquidator in the brokerage firm's statement verifying the transfer. Instead, in a podcast, Brandon Topham, the FSCA's head of investigations and enforcement, revealed that 1,200 bitcoins were delivered to liquidators. The bitcoins were also handed “straight to the liquidators,” according to Topham.

After MTI failed to remove their bitcoin in late December 2020, two angry investors quickly sought a South African court seeking remedy (BTC). A liquidator was appointed to manage the process of retrieving the bitcoins once the court decided in their favor. Still, the 1,200 bitcoins returned are a minuscule percentage of MTI's almost half-billion-dollar profit, which has been dubbed the largest bitcoin swindle of the year 2020.