Beware of BitConnect Scam ❌ – Katoch Tubes

Bitconnect  Scam alert

What is BitConnect?

BitConnect is a crypto investment platform that ran Ponzi schemes & offered trading bots to generate high income.

BitConnect Founder

Launched in 2016 by an Indian National named Satish Kumbhani. Bitcoin reached peak marketcap of $3.4 billion before closure

The Charges

A Pune based lawyer told police that he lost 220 bitcoins or 42 crores by investing in BitConnect, promising higher returns

But That's not all

Earlier US court indicted the founder for running a Ponzi Scheme worth $2.4 billion duping investors.

Where is the founder?

The founder is hiding & no arrest has been made so far. The police is investigating on similar case related to BitConnect

Lesson Learnt

Cryptocurrency is a highly volatile market. Anyone promising high returns is a scam or Ponzi Scheme

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