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{{::mti.png?600|}}

===== Mirror Trading International =====

** The latest news for MTI can be found here: [[mti_news | MTI News]] **

===== Background =====

^ Official name  | Mirror Trading International |
^ Website | [[https://mirrortradinginternational.com/]] |
^ Launched | July 2019 |
^ Type of Scheme | Investment Ponzi MLM |
^ Type of Exit | [[Hacking]]/[[Missing CEO]] |


Mirror Trading International (MTI) is a South African-based and registered company (({{q1.png}}))(({{q2.png}}))(({{q3.png}}))(({{q4.png}})) currently involved in an online investment scheme estimated to have obtained over four billion South African rands worth of bitcoin, and has been [[#governmental_accusations_of_fraud|accused of fraud]] by governmental bodies internationally. 

Chainanalysis.com released a report in September 2020 highlighting MTI as a growing scam receiving the most cryptocurrency from Africa, surpassing SBlock(([[https://behindmlm.com/mlm-reviews/s-block-review-sbo-token-wallet-app-ponzi-scheme/|S Block Review: SBO token wallet app Ponzi scheme]])) in November 2019.
{{::screenshot_20201101-172413_adobe_acrobat.jpg?400|}} \\ 

It is an investment scheme where members entrust a fictional artificial intelligence trading bot to produce returns. MTI claims that this bot traded in crypto and forex. Members of this scheme are also encouraged and financially incentivized to receive bonus payouts if they recruit more members to join under them. Repeated attempts by members and the public to obtain verification and confirmation of this trading bot have been met with resistance. MTI has been unable to prove the existence of their bot, and simply reiterate "there are no unhappy MTI members" as proof of their legitimacy.

MTI has on occasion presented select "live trading" videos. Although it is impossible to determine whether these videos are indeed "live" or not, it has come to light that one video showed a demo trading account being used (with no actual money traded), and in another video the "bot" only managed to lose money during the trading session.

MTI's previous broker, FXChoice, confirmed that no AI trading took place (("MTI's claims of using artificial intelligence software is inaccurate. Before the account was blocked, they executed just a few trading operations, which were performed manually, were large and incurred substantial losses."))(([[https://www.forexpeacearmy.com/community/threads/can-anyone-tell-me-about-my-mti-club-mirrortradinginternational-com-mymticlub-com.65880/post-375800|{{screenshot_20201016-214106_chrome.jpg|Forex Peace Army}}]])) from their account during the time that MTI was a client; instead, manual trades were made, which incurred substantial losses. MTI's account was subsequently closed by FXChoice due to non-compliance, and MTI did not bother to submit the correct verification documents. MTI claimed that they moved to a new broker, but refused to identify the broker to their members or the public. Instead, they sent {{ ::letter_to_fsca_with_screenshots.pdf |this PDF file}} to the FSCA as proof of MTI's BTC being moved from FXChoice to Trade300, being the new top-secret broker. Since then, [[trade300|Trade300]] has been confirmed as a fictitious broker with a website designed by [[johannsteynberg|Johann Steynberg]].

Apart from being a registered South African company, MTI has no affiliations or accreditations with any financial body worldwide. At this point in time, they have not performed any independent audits and have no [[https://en.wikipedia.org/wiki/Know_your_customer|KYC]] or [[http://web.archive.org/web/20201020104453/http://www.treasury.gov.za/comm_media/press/2017/20170508%20-%202017%20FICA%20Act%20pamphlet.pdf|FICA]] procedures in place. Additionally, their yearly financial statements are currently outstanding. The Financial Sector Conduct Authority (FSCA) has [[https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20Mirror%20Trading%20International%2018%20August%202020.pdf|issued a warning]] against MTI, and recommends that clients request refunds from them as soon as possible.

Due to the unrealistic level of investment returns, lack of transparency, lack of basic business governance and compliance, [[#people_involved|known involvement]] in past Ponzi schemes of top management, and general cult mentality of this scheme, MTI has been receiving all the wrong types of attention.

>Once a scheme has been declared a pyramid scheme and the money invested by participants has been recovered, victims are then compensated by the National Consumer Commission, however, **no compensation is payable to participants of the scheme who knew that they were joining or participating in a pyramid scheme**.(([[https://www.schindlers.co.za/2020/losing-money-fast-ponzi-schemes-vs-pyramid-schemes/|Schindlers]]))
(Emphasis added.)


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==== ** MTI WITHDRAWALS EXPERIENCING ISSUES ** ====
Multiple members have started complaining about deposits and withdrawals not showing up in their accounts. 

See [[mtiissues|MTI Issues]].

With the onset of so many withdrawal issues, MTI started a Tech Assist Telegram group monitored by volunteers. [[cheriward|Cheri]] and [[monicacoetzee|Monica]] frequented the group, amongst many other top tier leaders.
The text can be found in the following documents:
  * {{ ::techassist_telegram1.zip |}}
  * {{ ::techassist_telegram2.zip |}}
  * {{ ::techassist_telegram3.zip |}}
  * {{ ::techassist_telegram4.zip |}}

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==== Mirror Trading International offices raided ====

It has been confirmed that The Financial Sector Conduct Authority [[https://www.fsca.co.za/Pages/Default.aspx|(FSCA)]] raided the offices of Mirror Trading International (MTI) in Stellenbosch and Polokwane on the 26th of October 2020.
Further raids & seizures were performed at [[cheriward|Cheri Ward]] & [[clyntonmarks|Clynton Hugh Marks']] mansion in  Durban together with the home of CEO, [[johannsteynberg|Johann Steynberg]]

Further details can be seen at [[mtiraid|MTI Raid]].


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==== MTI's Claims ====

There are various reasons to doubt [[https://web.archive.org/web/20201018104544/https://mirrortradinginternational.com/overview/|MTI's claims]] that this AI trading bot actually exists and is making a consistent ~1% daily profit. There are also various reasons to doubt that MTI's leadership knows anything at all about running a business.

In this [[https://youtu.be/h-re6W5gpVs|video]], all MTI corporate can be seen trying to distance themselves from the fall-out. 

More details can be found on [[mticlaims|MTI Claims]].




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==== Governmental Accusations of Fraud ====

The Texas State Securities Board has [[https://www.ssb.texas.gov/sites/default/files/files/news/ENF-20-CDO-1811.pdf|served MTI with a cease-and-desist order]]---a US Government document signed by the securities commissioner---which concludes, among other things, that "Mirror Trading International and Steynberg are engaging in fraud in connection with the offer for sale of securities."

The Canadian financial regulator, AMF, has placed MTI on their [[https://web.archive.org/web/20201020111424/https://lautorite.qc.ca/en/general-public/fraud-prevention/illegal-on-line-trading-platforms/warning-list-of-websites-and-companies-that-solicit-investors-illegally/|list of financially fraudulent organizations]](([[https://behindmlm.com/companies/mirror-trading-international/mirror-trading-international-an-illegal-company-in-canada/|BehindMLM]])).

Mauritius also listed MTI as a fraudulent {{ ::investor-alert-mirror-trading-international-pty-limited-and-forex-t.pdf |company (PDF file)}}.

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==== Anonymous_ZA expose of MTI ====

Anonymous ZA was able to access all of MTI's client information. They created an anonymized database of the data and a website on the Tor network to expose what they found.

While the site has been taken down, a printout from the front page can be found {{ ::stats.php.pdf | here}}.
The sql file can be downloaded here - [[https://1337.org.za/mtifinal.sql.gz|SQL file]].

Text files of the users and their down lines,  emails and the top vocal promoters can be found here - 
  * MTI Pyramid - User numbers - {{ ::mti_pyramid_txt.zip |ZIP file}}
  * Usernames and email addresses - {{ ::users_and_emailaddresses.zip |ZIP file}}
  * Vocal Promoters and Pyramid sizes - {{ ::shills.zip |ZIP file}}

  * Download and install
    * [[https://www.torproject.org/|Tor Browser]]
  * Run Tor
  * Paste the following link inside your Tor browser
    * http://s2mfew43os4nrxvf.onion/uts/

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==== MTILeaks on Github ====

The original MTI Leaks website is no longer available on the Tor network, but you can find mirroring of the information and data on this website: [[https://mtileaks.github.io/|MTILeaks/Github]]

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==== Download the database from the Anonymous_ZA expose of MTI ====

While the site has been taken down, a printout from the front page can be found {{ ::stats.php.pdf | here}}.
The sql file can be downloaded here - [[https://mega.nz/file/G0dQkJ4Z#G2HOVZhDz8UhIrdzjF6jHu9dJFnTNMwaows7_CpB6Tc|SQL file]].

You can find a searchable backup of the Anonymous database expose at [[http://www.unrulyurbanist.co.za/|unrulyurbanist.co.za]]


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==== The backend ====

**The codebase behind mymticlub.com** [[mti#Anonymous_ZA expose of MTI|MTILeaks]]

The software that is used on mticlub.com is a fork of code by an Indian company known as Maxtra Technologies (https://maxtratechnologies.com/))

MaxtraTech includes Mirror Trading International as a reference in its web site (https://www.maxtratechnologies.com/portfolio.php)) along with other similar MLM type sites. MaxtraTech seems to specialize in creating web sites for MLM type sites.

The MTI web site is now hosted directly in India at Maxtra Technologies. A 3 year old version of the code behind mymticlub.com was found on: https://github.com/sandeep741/tiods/blob/master/ and corresponds largely to the code use in the MTI backoffice, with SQL injection and enumeration vulnerabilities kindly included. In fact, any web developer perusing the mymticlub.com interface, and the "sandeep741" code will reveal how similar it is.

Maxtratech seems to be MTI's mymticlub.com integrator, hosting provider and partner. Even a few simple DNS queries by a non-illustrious hacker will confirm...

----





==== People Involved ====

For a full list and all details on founders, directors, promoters and suspicious investors, please go to [[peopleinvolved|People Involved]].

----

==== Mirror Trading International in the news & Links ====
[[start#26 October 2020 - Breaking News]]


  * Mirror Trading Clients Should Take Their Money and Run, South African Regulator Advises - [[https://www.coindesk.com/south-africa-investigating-mirror-trading-forex-club | Coindesk]]
  * South African Crypto Investment Company Issued Cease And Desist Order - [[https://news.bitcoin.com/south-african-crypto-investment-company-issued-cease-and-desist-order-in-texas/|Bitcoin.com]]
  * Explosive information about Mirror Trading International released by Anonymous ZA - [[https://mybroadband.co.za/news/business/368165-explosive-information-about-mirror-trading-international-released-by-anonymous-za.html | MyBroadband]]
  * Blockchain proves MTI is a scam - Jun 2020 - PDF Analysis -[[https://go.chainalysis.com/rs/503-FAP-074/images/2020-Geography-of-Crypto.pdf|Chain Analysis PDF Page 21]]
  * Blockchain proves MTI is a scam - Jun 2020 - Article - [[https://globalcrypto.tv/data-from-chainalysis-claims-mti-is-a-scam/|Global Crypto]]
  * [[https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20Mirror%20Trading%20International%2018%20August%202020.pdf|FSCA Press Release 18 August 2020]]
  * FSCA Topham slams cryptocurrencies - [[https://www.businessinsider.co.za/money-and-markets/fsca-topham-slams-cryptocurrencies-is-crypto-safe-2020-10|Business Insider Oct 2020]]
  * African Crisis - (Offline - original article to be found here - [[http://historyreviewed.best/index.php/massive-bitcoin-ponzi-pyramid-scheme-mti-mirror-trading-international-in-s-africa-draws-130000-people-lots-of-people-will-be-hurt-my-investigation/|History Reviewed]]
    * [[https://africancrisis.info/index.php/massive-bitcoin-ponzi-pyramid-scheme-mti-mirror-trading-international-in-s-africa-draws-130000-people-lots-of-people-will-be-hurt-my-investigation/|MASSIVE Bitcoin Ponzi/Pyramid Scheme MTI]]
    * [[https://africancrisis.info/index.php/important-warning-s-a-180-million-r3-billion-invested-by-130000-people-get-rich-quick-scheme-pulls-a-crowd-despite-regulators-calling-time-out/|Get-rich-quick scheme pulls a crowd, despite regulators calling time-out]]
    * [[https://africancrisis.info/index.php/important-warning-joining-mti-may-end-in-tears-three-authorities-across-three-different-countries-warn-consumers-against-dealing-with-mirror-trading-international/|Joining MTI may end in tears]]
    * [[https://africancrisis.info/index.php/sa-ponzi-scam-us236-million-r4-billion-the-biggest-financial-scam-in-s-african-history-anonymous-data-dump-spills-the-beans-on-mirror-trading-international/|The Biggest Financial Scam in S.African History]]
  * Mirror Trading International Review: Forex trading daily returns - [[https://behindmlm.com/mlm-reviews/mirror-trading-international-review-forex-trading-daily-returns/|BehindMLM]]