Bitconnect Scam alert
Bitconnect Scam alert
What is BitConnect?
What is BitConnect?
BitConnect is a crypto investment platform that ran Ponzi schemes & offered trading bots to generate high income.
BitConnect Founder
BitConnect Founder
Launched in 2016 by an Indian National named Satish Kumbhani. Bitcoin reached peak marketcap of $3.4 billion before closure
The Charges
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
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?
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
Lesson Learnt
Cryptocurrency is a highly volatile market. Anyone promising high returns is a scam or Ponzi Scheme
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