CFTC Fines Mirror Trading $1.7B for Bitcoin Forex Fraud Scheme

CFTC fines Mirror Trading $1.7B for Bitcoin-related forex fraud
Court orders MTI to pay restitution for operating fraudulent scheme involving crypto and forex
MTI took nearly 30,000 Bitcoin from at least 23,000 people in US
Promised access to commodity pool but misappropriated funds instead
CFTC has resolved 10 fraud cases involving digital assets or forex since June 2023

cointelegraph.com

Relevant topic timeline:

9/9/2023

CFTC Fines Mirror Trading Int'l $1.7B for Massive Bitcoin Ponzi Scheme

The US Commodities Trading Futures Commission (CFTC) has imposed a $1.7 billion penalty and a ban on South African Bitcoin trading firm Mirror Trading International (MTI) for defrauding investors in a multilevel marketing scheme involving foreign currency transactions.