MTI was by far 2020's biggest investment scam – Chain

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Helped itself to R8.6bn worth of bitcoin belonging to its ‘investors’.
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Chainalysis was able to analyse MTI’s cryptocurrency transaction history to learn more about the scam. Image: Dado Ruvic, Reuters
It’s official: Mirror Trading International (MTI) was the world’s biggest crypto scam of 2020, having roped in $588 million (R8.6 billion) worth of bitcoin across 470 000 transactions, according to the recently released 2021 Crypto Crime Report by Chainalysis.
The number of victims likely runs into hundreds of thousands, says the blockchain analysis company.
However, 2020 wasn’t quite as bad as 2019 for crypto scams: in 2019, Ponzi schemes took in nearly $7 billion worth of cryptocurrency, against just under $2.7 billion in 2020.

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