With a new AML report describing 2019 as the year of the exit scam, Cointelegraph looks at the biggest alleged scams to date and how to spot one...
BitConnect News
Bitconnect is a cryptocurrency-based platform that has described itself as a self-regulated financial system that would brings big benefits to its investors. The Bitconnect coin was a cryptocurrency designed to provide funding for the maintenance of the platform. Strong marketing made Bitconnect’s price one of the fastest growing on the market and the Bitconnect coin hit $463 in December 2017. Large amounts of earned funds were spent on promoting the currency through numerous events, ads, etc. A video of speech by Carlos Matos at one of those events has gone viral and became the source of a Bitconnect meme. However, pretty soon, Bitconnect started to be described as a Ponzi scheme and was ordered to cease and desist by regulators of North Carolina and Texas. On January 2018, Bitconnect experienced a major crash and the Bitconnect exchange shutdown. Bitconnect stopped publishing news, closed their development and almost lost the entire price of the Bitconnect coin.
- Analysis
- News
Indian police have discovered an alleged multi-million dollar cryptocurrency scam involving a BitConnect promoter.
- News
The FBI is attempting to investigate the movements behind the failed alleged ponzi scheme, which at one point was worth $2.5 billion.
- New Year Special
Scams and frauds were still prevalent in 2018 despite a decline in the cryptocurrency market value.
- News
The Federal Court of Australia has imposed a travel ban and frozen the funds of John Bigatton, a promoter of $2.6 billion alleged Ponzi scheme Bitconnect.
- In depth
Cointelegraph investigates the murky web of incidents connected with the Bitconnect heist, from Texas to Gujarat.
- News
Two U.S. states have asked Indian authorities to seize the property of the promoters of alleged BTC Ponzi scam BitConnect.
- News
Indian police have arrested a man who was allegedly involved in promoting the Bitconnect investment scam.
- News
by Helen Partz
The Texas State Securities Board has taken emergency action against a network of fraudulent crypto-related firms.
- News
YouTube has become a defendant in connection with the BitConnect class action lawsuit, claimants allege that YouTube did not take proper action in delisting vid...
- Panorama
In the wake of the Pincoin/iFan ICO scams in Vietnam, we take a look at the five biggest cryptocurrency scams to date.
- News
In a new class action lawsuit, Nano developers are accused of giving unqualified recommendations to store Nano on Italian exchange Bitgrail.
- News
Bitcoin got its 15 minutes of fame on US TV show Last Week Tonight, but it was likened to BitCoinnect while host John Oliver ridiculed Don Tapscott.
- News
by Helen Partz
Investors have filed a class action complaint against BitConnect one week after its shutdown, seeking compensation.
- News
Bitconnect essentially closes its doors following regulatory troubles, bad publicity.
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