Mirror Trading International

[w1z4rd]

If our regulators or enforcement are useless, has anyone reached out to the aussie regulators with all this information? If there are aussies in it, Im sure they could get to work on the job.

 

[warrenpridgeon]

So help a brother out...lets say the Hawks/SARS/some appointed Administrator decides to go after the money. We all know the MTI KYC procedures are a joke, with many accounts not belonging to uniquely identifiable people...where will they get the list of names? Can they go to e.g. Luno with an applicable warrant, and Luno has to provide a full list of names associated with MTI?

They still have to use their emails for withdrawals...
The "man" can go to Luno et al with court orders and say "gimme the deets of these email addresses fanx"... Now... most of the people signed up with the same email address they have been using for years and it stands to reason they would use the same email at Luno (or wherever).

 

[RandomGeek]

A fairly comprehensive list of members is on the web for most to see.with all transactions.

I could have registered an account under Mickey Mouse; also plenty of minors listed there. Some people may have registered their grand parents (with or without their knowledge). I could go on...

 

[Bandersnatch]

So help a brother out...lets say the Hawks/SARS/some appointed Administrator decides to go after the money. We all know the MTI KYC procedures are a joke, with many accounts not belonging to uniquely identifiable people...where will they get the list of names? Can they go to e.g. Luno with an applicable warrant, and Luno has to provide a full list of names associated with MTI?

The names are in the database leak.

 

[Bandersnatch]

I could have registered an account under Mickey Mouse; also plenty of minors listed there. Some people may have registered their grand parents (with or without their knowledge). I could go on...

They have emails as well e.g.:

User	Hxnk Pxtrxs Jxcxbs (hpjxcxbs) from South Africa
Possible emails	hxnkjxcxbs1@gmxxl.cxm

 

[RandomGeek]

The names are in the database leak.

Are those names verified by MTI, with matching ID numbers, when the person signed up?

 

[soulie]

I could have registered an account under Mickey Mouse; also plenty of minors listed there. Some people may have registered their grand parents (with or without their knowledge). I could go on...

some could have , but i dont think the majority ever thought that far ahead .

 

[PsyWulf]

Are those names verified by MTI, with matching ID numbers, when the person signed up?

If the person made a withdrawal request they need to verify it using a one-time link in their email,so while not a full KYC it should be good enough if there's other info tied to that email address

 

[RandomGeek]

some could have , but i dont think the majority ever thought that far ahead .

so I agree for the average guy there may be enough info, but for a pro scamster wanting to avoid exposure they may well have given enough of a gap

 

[IndigoIdentity]

What type of exit scam do you think MTI are going to run?

The guy with the bitcoin disappeared?
We were hacked?

The latter

 

[soulie]

How did a member manage to get a balance in scheme of R-1315.64 ,is he beating the system .

 

[Snyper564]

How did a member manage to get a balance in scheme of R-1315.64 ,is he beating the system .

not impossible, I believe some ppl were using p2p betweeen accounts and moving funds to a thrid before it cleared on the first 2

 

[expedite]

Actually, I’m surprised none of the MTI financial whizzkids have pointed out the fractional reserve requirement and the money multiplier effect that the entire banking industry is built upon. For example, SA banks are only required to keep 2.5% reserves (if memory serves) of their deposits.

So technically, if everybody took a run at a bank and withdrew their money, the bank would only be able to honor a fraction of their obligation (at least in the short term). Those of you who watch the news regularly, might remember the situation in Greece a few years ago, where panic related to the financial crash there, resulted in withdrawals being suspended for weeks.

The big difference is that banks have a lot of other assets, and this would be a temporary liquidity issue, not a complete collapse. MTI on the other hand has only asses and no assets, other than the Excel spreadsheet that generates member statements and the Indian support team that oils the bot.

There are also no fixed properties registered in the company's name, nor JS. I have checked.

 

[PsyWulf]

so I agree for the average guy there may be enough info, but for a pro scamster wanting to avoid exposure they may well have given enough of a gap

I've seen the money-laundering angle also mentioned on some arguments,MTI would be a great front for washing money due to the aforementioned gaps

 

[soulie]

not impossible, I believe some ppl were using p2p betweeen accounts and moving funds to a thrid before it cleared on the first 2

sneaky , hence the 7-14 days thing , scammers playing games with scammers

 

[Snyper564]

sneaky , hence the 7-14 days thing , scammers playing games with scammers

exactly/. So move 1 btc from a to b then from b to c and then back to a

 

[soulie]

If the person made a withdrawal request they need to verify it using a one-time link in their email,so while not a full KYC it should be good enough if there's other info tied to that email address

Most people take pride in their email address ,signatures , diplomas , achievements , fake degrees , contact numbers , Google has it all , so if your invested and google releases your info , which they will , the poor investor is stuffed , now who would ever have thought of that a few months ago .

 

[soulie]

exactly/. So move 1 btc from a to b then from b to c and then back to a

Like credit card users used to do when you had to still use the manual machine , merchant only finds out 3 days later that hes been screwed.Merchant Services knew my voice when i phoned for clearance , was virtually every transaction.

 

[Bandersnatch]

so I agree for the average guy there may be enough info, but for a pro scamster wanting to avoid exposure they may well have given enough of a gap

In a forensic investigation even the email address will be enough to put together the complete picture. I'm sorry you put money into MTI.

 

[Snyper564]

This saga continues as well.

SARS seize assets of flashy businessman Hamilton Ndlovu

The flamboyant businessman infamously posted on social media how he bought 5 luxury cars worth R11 million in one day.

www.thesouthafrican.com