The Western Cape High Court has placed Banxso (Pty) Ltd under final liquidation, bringing legal finality – at least in the winding-up proceedings – to a saga that began with deepfake-fuelled complaints and escalated into regulatory freezes, licence withdrawal, and a record administrative penalty of R2 billion.
In a judgment delivered on 2 March, Judge André le Grange confirmed the provisional winding-up order granted in August 2025 and held that the investor applicants – CFD traders on Banxso’s platform – had proved their case on a balance of probabilities.
The Court directed that the applicants’ costs, including the costs of two counsel, “shall be costs in the liquidation”.
The company’s affairs now fall under…