Mirror Trading International

Mirror Trading International (MTI) was founded in 2019 by South African national Johann Steynberg. The company claimed to offer automated trading services using a proprietary "bot" that generated consistent, high returns (averaging 0.5% per day) on members' Bitcoin deposits. MTI operated a multi-level marketing (MLM) model, providing referral bonuses for recruiting new members. The platform amassed a global following with over 260,000 members. In late 2020, the scheme collapsed when Steynberg disappeared, and the company was subsequently placed into provisional and then final liquidation after being declared an illegal and fraudulent Ponzi scheme by South African authorities.