Bitconnect News

Now defunct, Bitconnect operated as a platform that advertised significant profits in tandem with lending activities around Bitcoin and the Bitconnect coin, BCC. 

A number of people advocated for the project through various channels, such as social media, receiving affiliate rewards. The project, however, closed in January 2018, taking off with many users’ funds. Bitconnect’s price dropped in value, from hundreds of dollars to nearly zero. During Bitconnect’s active time on the market, multiple regulatory authorities demanded the outfit halt its operation. The Bitconnect scam has been referred to as a Ponzi scheme, and a number of legal developments surfaced following the project’s demise.

News
Former BitConnect promoter Glenn Arcaro has pled guilty to his role in the saga, but the whereabouts of the firm’s founder, Satish Kumbhani, are unknown.
BitConnect promoter pleads guilty over Ponzi scheme as platform faces new SEC charges
Brian Quarmby
2021-09-02T03:13:41+01:00
5336
News
Four of six U.S.-based promoters of the notorious BitConnect Ponzi scheme have reached settlement agreements with the SEC.
SEC closes in on settlements with US BitConnect promoters for millions
Samuel Haig
2021-07-08T03:25:39+01:00
5612
News
The SEC says five individuals "promoted a global unregistered digital asset securities offering."
SEC charges 5 for illegally promoting $2 billion Bitconnect Ponzi scheme
Andrew Thurman
2021-05-28T22:48:42+01:00
48277
News
The Australian is facing six charges that carry penalties of between 2-10 years in prison.
Aussie Bitconnect promoter faces prison following ASIC investigation
Turner Wright
2020-11-17T23:52:00+00:00
7574
News
John Bigatton has been barred from providing financial services in Australia for seven years for his involvement with the BitConnect Ponzi scheme.
Top Australian BitConnect promoter banned by ASIC for 7 years
Samuel Haig
2020-09-03T08:30:00+01:00
4697
Explained
Crypto worth billions upon billions of dollars has been lost to fraud. But what are the most common scams, and can they be stopped?
Fraudulent Transactions in Crypto, Explained
Connor Blenkinsop
2019-10-22T19:09:00+01:00
How to crypto
Experts share their insights on how to best avoid crypto exit scams, highlighting the biggest red flags investors should look out for.
Crypto Exit Scams — How to Avoid Falling Victim
Shiraz Jagati
2019-09-09T09:13:00+01:00
9272
Analysis
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...
What Are the Biggest Alleged Crypto Heists and How Much Was Stolen?
Joseph Birch
2019-08-16T17:36:00+01:00
4704

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