Cryptocurrencies
South African Bitcoin Trader Under Liquidation, Business Day Says
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A provisional liquidation order has been granted against a South African Bitcoin trading company that is said to have received about 9.45 billion rand ($644 million) from as many as 280,000 investors, Business Day reported.
A Cape Town court gave the ruling after two urgent applications were filed by disgruntled clients unable to withdraw funds, the Johannesburg-based newspaper reported on Tuesday. South Africa’s Financial Sector Conduct Authority earlier this month said in a statement that it believes “Mirror Trading International and its senior management are conducting an illegal operation, misleading clients and have contravened several laws.”