Bitconnect Closes Virtually Its Entire Operation, BCC Token Drops 87%steemCreated with Sketch.

in #cryptocurrency7 years ago

Author : David Dinkins


Credit : Cointelegraph

 Bitconnect has formally closed its lending platform and cryptocurrency exchange following warnings from Texas and North Carolina regulators. The Bitconnect Coin (BCC) digital currency is down 87% today and 93% from its December 29 high of $437. At press time, BCC is trading for just $30. 

 Ponzi-like

 Many in the digital currency community have called Bitconnect a Ponzi scheme, including Ethereum founder Vitalik Buterin, according to TechCrunch. Such accusations were based on the multi-level referral system and the promise of up to 40% earned interest, plus a daily bonus of up to 0.25% per day, on each loan. The promise of risk-free high returns is often typical of a scam - if it sounds too good to be true, it probably is.

Bitconnect Coin’s website describes the currency as: 

 “The moment you acquire BitConnect Coin it becomes an interest-bearing asset with 120% return per year. It is that simple.” 

 Unfortunately for investors, that “interest-bearing asset” is now nearly worthless. 

Source : Cointelegraph

 ..............If you like this article , Upvote it  & Comment Your Thoughts...........................

..................Follow me to Get more the of Insider News..........................................

........................................Thank You!........................................................... 

Sort:  


Awesome work! I`ve re-steemed!
Must be supported...
Thank you for your wonderful work 😊😊

Bye bye ponzi 👍

if you have a moment you can come to see my blog @kelos

Coin Marketplace

STEEM 0.26
TRX 0.21
JST 0.038
BTC 98326.85
ETH 3625.07
USDT 1.00
SBD 3.83