Beware of Scams like BitConnect

July 9, 2021 4:33 AM
BitConnect is the most notorious platform when it comes to scams. This platform issued BitConnect Token for borrowing and trading to its users. The users had to pledge Bitcoin for getting the tokens. BitConnect promised no risk (Too good to be true). 

The cease and desist orders were issued in January 2018. BitConnect shut down without giving investors a chance to pull out their funds. The value of BitConnect Coin fell 92%. In the end, it became clear that BitConnect was a Ponzi Scheme.

Investors lost 2 Billion Dollars in BitConnect Platform. The promoters of BitConnect on Global Level are facing Charges. 

Lesson: Beware of Ponzi Schemes in Crypto. If a platform is promising returns without any risk then it is fishy.

  • #scams
  • #bitconnect
  • #bitcoin
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