CFTC Charges South African Bitcoin Club Mirror Trading International With $1.7B Fraud

The Commodity Futures Trading Commission (CFTC) described the case as its “largest ever fraud scheme case involving bitcoin.” It alleged MTI’s key figure, Cornelius Johannes Steynberg, accepted 29,421 BTC from 23,000 Americans “and even more throughout the world” for a commodity pool scheme he wasn’t licensed to run.