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For naive investors who invested in BitConnect (BCC), today marks an exponentially bigger loss than the general cryptocurrency downtrend. After discontinuing its “lending” program, BCC instantly plummeted over 90% from the day’s high, dropping from over US$330 to a low of just under $20. While most of the community warned about the blatant scam presented … Read more
In a move that will surprise few observers, Bitconnect has announced that it is closing its lending and exchange platform. The company has widely been accused of operating a Ponzi scheme and was recently rocked by cease and desist notices in two US states. Immediately after the firm declared its intention to wind things up, … Read more
Most cryptocurrency enthusiasts are well aware that BitConnect is a very problematic venture. Some people even call it an outright scam, although others still seem to be making money off it without any problems. The Texas Securities Commissioner recently sent the company an emergency cease and desist order. It’s a very big step toward shutting this … Read more
Attention shifts from national regulators to states, as Texas Securities Commissioner issues cease and desist order against Bitconnect for marketing unregistered securities to its citizens. #BREAKING Go to Source Powered by WPeMatico
On Thursday the Texas Securities Commissioner (TSC) signed an Emergency Cease and Desist Order to stop Bitconnect from operating. The mysterious company is a popular bitcoin lending platform with a 4.1 billion USD market capitalization, and is long accused of being a scam. Also read: African Central Banks Told to Ditch Dollar and Buy Bitcoin … Read more
Since BitConnect (BCC) rose to the top echelons of CoinMarketCap’s chart several months ago, it has received much skepticism from the mainstream cryptocurrency community. Despite this, it has maintained a huge market cap, seldom dipping below the top 20 coins, and seems to be continually growing. It’s clear that BitConnect, which promises daily returns of around 1% for users who “loan” … Read more
