Will Steynberg be extradited to the US, and will the FBI keep the spoils?

CIARAN RYAN: Johann Steynberg was arrested by Brazilian military police on December 29, 2021, just before New Year, bringing to an end a year-long hunt for the fugitive behind Mirror Trading international, or MTI.

So, from a South African perspective, one really needs to appreciate this is a sort of multifaceted, multi-jurisdictional matter that now involves quite a few role players. CIARAN RYAN: Okay, there’s a saying in crypto, ‘not your keys, not your crypto’. In other words, you have to control the key to your crypto wallet or you can lose the lot. It’s rather like having your bank-account password. If you don’t have that, whoever’s in possession of that password can take all your money. In this case he who owns Steynberg may end up owning the Bitcoin under his control, and in this case it could be the United States.

CIARAN RYAN: It’s probably worth just summarising what Mirror Trading International actually was and is. It’s a company that is currently in final liquidation. Of course, it really came to public prominence in 2019/2020. It was offering investors returns of up to 10% month, but you had to send Bitcoin to addresses which were controlled by MTI, or by Johann Steynberg personally now it seems.

As it stands, there is an agreement between South Africa and Brazil; however, that agreement is unsigned. During that time a few things need to happen. One is a bail hearing together with an extradition hearing. The Brazilian Supreme Court would be the authority exercising its discretion as to whether this individual should be extradited to the requesting state. If the extradition process is successful, the alleged fugitive then needs to be returned or extradited to the requesting state within 60 days. Those are the prescribed timelines in play.

Monero, for people who are not familiar with it, is a completely anonymous cryptocurrency. It has attracted a lot of negative interest from regulators and authorities around the world because of that. If you own Monero it’s very easy to hide the identity of the person who owns it. CIARAN RYAN: But the point is there is a request for extradition to South Africa. So far he’s been released from custody in Tennessee into his own – I don’t know exactly what the term is – into his own custody. And he’s definitely not in South Africa, correct?

Did Darren Hanekom pay to have this exact article on every small time crypto blog spamming the intetnet? Seems so. Really dodge guys.

Why aren you talking to the attorneys on the case?

Why do you keep posting the same stories over and over…

TradingMzansi Typical of the US

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