According to court documents, approximately $60 million (ZAR1.1 billion) was recovered to compensate victims of the collapsed bitcoin investment platform, Mirror Trading International (MTI). However, only $34.3 million of that amount remains. The recovered funds were utilized by liquidators to settle an outstanding tax liability of $15.2 million and legal fees of $7.78 million. These legal fees encompass the expenses associated with summoning numerous MTI investors who withdrew their funds from the Ponzi scheme within a specific timeframe. Furthermore, the liquidators incurred legal costs after their attorneys issued 187 letters of demand in the U.S. and 149 adversary complaints. Additionally, the liquidators themselves have earned fees totaling $7.5 million for the work conducted thus far.
