BitConnect scandal
Looks like BitConnect, which was widely discussed as a pyramid, is leaving the crypto market. Or, better to say, it is running away, turning tail. Because the credit platform, the wallet and even the thread on subReddit are just disabled.
💲More than 95% of BCC positions were being produced on BitConnect, which was controlled by developers. That was already a bad sign, but most of users just closed their eyes on it. Now, when price of BCC dropped from $400 to $30, we can say, that developers had finished their fraud and had sold all the coins. Some analytics say it could even influence on Bitcoin market, but for the moment it’s just an assumption. The fact is that BitConnect was the centralized pyramid, which has stopped existing.
The coin’s holders are especially angry at the closing of the thread on subReddit. And it’s just completely disabled – no one can even read previous messages.
👥A lot of traders were warning about this cryptocurrency. Its downfall was just a matter of time. But thousands of people had already invested into BCC. Some of them managed to raise some funds, but most of investors will possibly never get their money back.
Thanks for stopping by and keep on checking for more updates @okoyeemmanuel
I simply don't understand the big deal. The markets were influenced by the people, and the people making posts like this, causes more panic, which overall, decreases the price due to panic sales. I know what they did was wrong, but I disagree with you when you mentioned they "ran away". If you had read their big notice advertised all over their website about them shutting down, you'd have read why, and when they were shutting down. They received 2 cease and desist orders, and if they hadn't shut down, would have received pressed charges. I'm holding onto my BCC because I'm not sure what it can do, because BitConnect still has websites/ties in other countries such as Japan and Indonesia.
Congratulations @okoyeemmanuel! You received a personal award!
Click here to view your Board
Do not miss the last post from @steemitboard:
Congratulations @okoyeemmanuel! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!