Shortly after receiving cease-and-desist letters from the State of Texas and North Carolina, BitConnect (BCC) discontinued its lending platform, effectively shutting down the Ponzi scheme and leaving investors with stacks of worthless BCC tokens
Read moreSix BitConnect investors, who collectively lost over $700k on the platform, are taking the company and its affiliates to court in the US. Also read: Matrix ICO Raises 13,227.5 ETHs for 50 Million Tokens Earlier this month,
Read moreIt was the best of times, it was the worst of times. From the hubris and excess of the North American Bitcoin Conference to the gloominess of the crypto markets, it’s been a feel-o-coaster
Read moreThe fall of Bitconnect was as certain as night follows day. A pyramid scheme wrapped inside a Ponzi with a side order of WTF, Bitconnect was as crazy as it was calamitous. The only
Read morePonzi lending smart bot scam Bitconnect finally did what most sane observers predicted long, long ago. It went splat. And it didn’t collapse due to government pressure, nor flurries of bad press, and certainly not
Read moreFollowing months of bad press and publicity, lending and exchange platform Bitconnect has announced that it is shutting down. Many had suspected the platform of being a Ponzi scheme, and it had suffered multiple DDoS
Read moreThe state of Texas has filed an Emergency Cease and Desist Order against BitConnect, stopping their various investment programs. A common saying often heard in the US is “don’t mess with Texas.” Well, it
Read moreThe Texas Securities Commissioner issued an Emergency Cease and Desist Order on Jan. 4 against Bitconnect for the selling of unlicensed securities. According to the Texas State Securities Board news release: “The Securities Commissioner found that the BitConnect investments are
Read moreOn 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
Read moreThe days of mining Bitcoin in your bedroom on a desktop computer are long gone. It used to be that a small network of staunch Bitcoin supporters would mine the cryptocurrency on individual systems, more as a hobby
Read more