2019-02-23

The FBI is looking for victims of Bitconnect

An American government agency dealing with crimes beyond the borders of a given state announced on its website that it is looking for people who have invested in the Bitconnect (BCC). Victims can contact the agency and fill out the appropriate questionnaire regarding this Ponzi scheme.

The Bitconnect investigation continues

Just over a year ago, the controversial Bitconnect closed its cryptocurrency exchange, and price of BCC dropped by as much as 90% from over $ 400 to less than $ 20. The entire business model of the company looked like a Madoff scheme in which the first investors benefited from the money paid by people who joined the pyramid later.

The sudden loss of value led to court proceedings aimed at returning the invested funds by investors who found that their assets had become almost worthless in just a few days. According to court documents filed on July 3 last year, even YouTube was added to a class action lawsuit against BitConnect.

Carlos Matos / BitConnect Scammer

The FBI is still looking for victims, hoping that they will provide the necessary information in the investigation.

  • Bitconnect guaranteed investors up to 10 percent of the total monthly return on their investment in a multi-level system based on the sum of the initial investor’s deposit. – notes the FBI.

In September 2018, a member of the Indian party Bharatiya Janata Party (BJP) connected with the BitConnect scandal, Nalin Kotadiya was arrested in connection with the case of theft of bitcoins worth nearly one billion rupees (over $ 13.8 million).

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