Thread: Cease and Desist issued against BitConnect alleging fraud

The Texas State Securities Board has issued an Emergency Cease and Desist notice against the BitConnect ponzi scheme, accusing it of securities violations and fraud









You can download a copy of the Texas Emergency Cease and Desist order in .PDF format HERE

One doesn't have to be a Rhodes scholar to work out BitConnect is dead in the water.





Anyone joining BitConnect now has definitely lost their money.

The North Carolina Securities division has issued a Temporary Cease and Desist order to BitConnect

BitDisconnect......GAME OVER!

NUK

ah the wacky 'ddos attack'. always stick with the classics.

To nobodies' surprise:

It was just a couple of affiliates in Texas who were advertising it wrong!!!..

Interesting observations from Oz over on BEHINDMLM

In the wake of BitConnect’s collapse, public trading of BCC points has plummeted to $30 to $40.


BCC points were always worthless but given they can’t be parked for a Ponzi ROI, the trading value between BitConnect investors is now expected to approach $0.


Ten days ago BCC was trading at $431 dollars. Today an adjusted market cap of just $224 million equates to $2.4 billion dollars wiped.

If I had to guess, I’d estimate BitConnect investor losses to run between $500 million and $1.5 billion. $2 billion at a stretch but I’d be surprised.

BitConnect’s website went down four days ago. The company claimed this was due to DDOS attacks, however it is far more likely BitConnect’s anonymous admins instead used this time to secure and transfer out what was left of invested funds.

Just in case anyone thinks this is fake news:

Speaking of BitConnect collapsing, who remembers "BitConnect" Carlos Matos from last years' Bitconnect Annual Ceremony ???




Carlos, Carlos - wherefore art thou Carlos ????

Oh, here you are on your ConceivedAchieved page on Facebook



Hmmnn, no new posts since December 16, 2017 Eh ????

I wonder why.

"We can't let these legendary affiliate scammers get away with what they did, and we have to show them all that we are the internet, and that we never forgive, and never forget."

https://www.reddit.com/r/CryptoCurre...his_bitconnect

"In what appears to be an attempt to cover their tracks, admins of the popular BitConnect Reddit have set the discussion forum to private."

BitConnect Reddit goes private, YouTube shill updates

First USI-Tech and now BitConnect. Keder Cormier really knows how to pick 'em...

Always good to see Ponzi schemes getting more exposure in news stories written about them...

https://techcrunch.com/2018/01/16/bi...eme-shuts-down

Go Reddit...

Reddit.jpg

https://www.reddit.com/r/CryptoCurre...ill_do_promote

"In the wake of BitConnect’s collapse, Badisse David Mehmet has offered a $1000 bounty on both Glenn Arcaro’s and CryptoNick’s whereabouts."

$1000 bounty offered for Glenn Arcaro and CryptoNick's whereabouts

can't be too serious......it's only $1000

THE REALITY:



THE PONZI PIMPS' RATIONALIZATION AND JUSTIFICATION:

Originally Posted by Whip

can't be too serious......it's only $1000

I give him an A for effort, although not sure what he is going to do when he tracks them down?




Dog.JPG

Just in case you couldn't bring yourself to watch the whole video, see if these make things clearer as to the thought processes of a ponzi pimp

"There’s been talk of a class-action lawsuit for a few days now, with one finally filed in the Southern District of Florida on January 24th."

BitConnect class-action lawsuit filed over $771,000 in losses

https://www.silvermillerlaw.com/wp-c...-COMPLAINT.pdf