MTI CEO Johan Steynberg flees South Africa

In a video replace revealed earlier as we speak, Mirror Buying and selling Worldwide associates have confirmed CEO Johan Steynberg has fled South Africa.

As per the “Staff Prime” video, info introduced ‘is as shared by Cheri MTI’s head of communications.’

“Cheri” refers to Cheri Marks who, alongside together with her husband Clynton (proper), are suspected of being the precise house owners of Mirror Buying and selling Worldwide.

Steynberg fleeing South Africa, which we’re positive has completely nothing to do with the FSCA investigation and open prison case, is seemingly as a result of he needed to transfer MTI’s servers.

[15:20] There’s a rumor that Johan Steynberg is just not in South Africa, that he’s in actual fact overseas abroad.

And I can let you know that in line with Cheri that’s certainly true. He isn’t in South Africa at this level.

The explanation why he’s not in South Africa is as a result of he’s at the moment engaged on the servers.

[5:19] Johan Steynberg needed to power transfer his servers to model new servers in a distinct nation.

Why did Steynberg have to maneuver MTI’s servers?

Steynberg (proper) fleeing South Africa is put right down to a “safety breach”, which can be conveniently used to elucidate away ongoing MTI withdrawal delays.

It additionally conveniently explains Steynberg’s absence amid the FSCA’s latest announcement.

As relayed by Cheri Ward, a “syndicate of hackers” allegedly breached MTI’s programs 16 days in the past.

[1:20] They’ve hacked Google. They’ve even hacked uh… I feel it’s known as the monetary sector in Joburg.

However they hacked fairly a number of corporations and held corporations ransom and the identical factor occurred sixteen days in the past with MTI.

On account of the breach (of which after all there isn’t any proof, fabricated or in any other case);

[1:37] What Johan Steynberg then did, was to clearly shut down the servers as we knew them. After which he moved the whole lot over to the brand new servers.

Through the motion of the servers from the previous servers to the brand new servers, the withdrawal operate inside MTI principally went damaged.

Withdrawals are supposedly taking place manually and taking fifteen minutes per withdrawal, with 2500 requests within the backlog.

New funding has additionally apparently not been tracked for roughly two weeks.

In the meantime how altering servers and/or transferring them abroad addresses an information breach is unclear.

Curiously, the place Steynberg has fled to has not been disclosed. Appears a little bit of an odd factor to omit.

Effectively, it could be if Steynberg wasn’t on the run from the legislation.

South African authorities seem to have a time of it arresting criminals inside their borders. We are able to’t think about how lengthy it’d take to extradite Steynberg from wherever he’s hiding.

Regardless of asserting she’d personally deal with the FSCA’s press-release yesterday, Cheri Marks herself didn’t make an look on the webinar.

In line with the hosts Marks was invited to take part, however didn’t reply as a result of she was “very busy”.


Replace twentieth December 2020 – Mirror Buying and selling Worldwide is now claiming Johan Steynberg is lacking.


Replace twenty first December 2020 – Since publication of this text, Staff Prime has deleted the referenced video from their Vimeo channel.


Replace seventh January 2022 – Brazilian authorities have arrested Johann Steynberg on an Interpol issued warrant.