The U.S. Commodity Futures Trading Commission (CFTC) announced on Thursday that a judge in the U.S. District Court for the Western District of Texas issued a default judgment and permanent injunction against Steynberg, founder and CEO of South African bitcoin pool operator Mirror Trading International Proprietary, requiring Steynberg to pay approximately $1.7 billion in compensation to the victims and a civil penalty of approximately $1.7 billion, the highest civil penalty ever imposed in a case brought by the CFTC.
The action is also the largest scam involving Bitcoin in the CFTC case. The CFTC warned: "It may not be possible to recover any losses because the offenders may not have sufficient funds or assets." (Jinshi)
As previously reported, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement lawsuit in the District Court for the Western District of Texas, accusing South African bitcoin pool operator Mirror Trading International Proprietary Limited (MTI) and MTI CEO Cornelius Johannes Steynberg of fraud and registration violations. #ETH #Web3
