CFTC Fines Mirror Trading Int'l $1.7B for Massive Bitcoin Ponzi Scheme
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The CFTC fined Mirror Trading International $1.7 billion for defrauding thousands through a Bitcoin Ponzi scheme.
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The company collected over 29,000 BTC worth $1.7 billion from investors.
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Founder Cornelius Johannes Steynberg is permanently banned from CFTC markets and must pay over $1.7 billion.
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From 2018 to 2021, the firm ran an international fraudulent multi-level marketing scheme.
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The CFTC says this is the highest penalty ever in a CFTC case.
![](https://dailyhodl.com/wp-content/uploads/2023/09/slaps-penalty-for-over.jpg)