Bitconnect update regarding the changes to lending and exchange functions
Bitconnect has released an update regarding the closing of their lending service.
After Bitconnect announced the closing of their lending service, the price of the Bitconnect coin dropped massively due to all coins being released at once. This had a detrimental effect on people who had a lot of their money invested in the scheme.
On January 17, Bitconnect said in their statement 'We will do our best to honor the value of BCC as close to what it has been holding during past several months' and that 'For next 10 days we are allowing members outside the U.S.A, to participate in the BitConnect X ICO with BCC at $150.'
It is honestly a disgrace that Bitconnect were allowed to pull of this ponzi scheme that affected so many people's livelyhoods, I watched a video recently where a man talks about losing $30,000 to the scam - https://www.reddit.com/r/CryptoCurrency/comments/7rh5kd/guy_lost_his_30k_savings_on_bitconnect_this_is/. Although, it is obviously not smart to invest money you can't afford to lose, it is always still sad to watch.
Hopefully, with this recent update from Bitconnect, people manage to get back some of their stolen funds from the Bitconnect platform, and from there completely abandon the service.
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