$1.2 billion crypto scam

The collapse of Mirror Trading International (MTI) in South Africa marked one of the most significant and instructive cryptocurrency fraud cases to date. It was not just the staggering scale of the scam — over 23,000 BTC lost, valued at more than $1.2 billion at the time — but the cross-border legal implications that make this case a pivotal reference point in crypto enforcement and jurisprudence.