BitConnect @ BehindMLM

As one of BitConnect’s top promoters, Ryan Maasen profited handsomely by investing in and convincing others to invest in the BitConnect Ponzi scheme. As I understand it, Maasen boasted about paying off his house and buying a new car as a result of his BitConnect promotional efforts. When BitConnect collapsed, Maasen was one of the [Continue reading…]

The widest reaching lawsuit against BitConnect thus far is the first Florida class-action. Filed on January 24th, the initial class-action complaint sought to hold BitConnect, Glenn Arcaro, Nicholas “CryptoNick” Trovato, Ryan Hildreth, Trevon James and Craig Grant liable for $771,000 in BitConnect investor losses. On January 30th an amended complaint was filed, adding Ryan Maasen [Continue reading…]

It used to be when a Ponzi collapsed that was the end of it. With cryptocurrency we’ve now got this drawn out period where post-collapse, those scammed desperately either try to offload their plummeting in value points or hold their points in the hope that, for no evident reason, they’ll go back up in value [Continue reading…]

The latest litigation filed against BitConnect marks the fourth class-action filed against the company in two weeks. In the latest lawsuit, filed in Minnesota on January 31st, Plaintiff Patricia Mengesha seeks to hold BitConnect International PLC, BitConnect LTD and BitConnect Trading liable for ‘financial losses suffered from an inline investment scam‘.

BitConnect victims continue to take matter into their own hands, following the filing of a third lawsuit in the US. Filed on January 30th, Plaintiffs Paul Long and Kiandra Love seek to hold defendants BitConnect International PLC, BitConnect LTD, BitConnect Trading LTD and Ryan Maasen accountable for their losses.

In an attempt to portray BitConnect victims filing lawsuits against the company as “crybaby ass motherfuckers“, top US investor Trevon James claimed investors elsewhere in the world are fine with collectively losing millions of dollars. None of the other countries that were in BitConnect, I don’t hear a peep out of them crying or anything. [Continue reading…]

Over the past fortnight two class-action lawsuits have been filed against BitConnect and several top investor promoters. The first class-action, filed in Kentucky, is moving along with surprising speed.

Following the Florida class-action lawsuit filed against BitConnect and several top promoters, there’s been anticipation regarding how the named defendants will react. One of BitConnect’s former top YouTube promoters, Trevon James, held a livestream earlier today to get “some things off (his) chest”. What followed was almost an hour of denials and a barrage of indefensible [Continue reading…]

As the public value of BCC fast approaches zero ($6.10 as I write this), more investors are having to come to terms with being scammed. Last week in Florida we saw the first investor class-action lawsuit filed against BitConnect and several top promoters. Now a second proposed class-action has been filed in Kentucky, and what’s [Continue reading…]

A week before it collapsed, Glenn Arcaro started scrubbing his social media profiles of any mention of BitConnect. Arcaro also shut down his Future Money website, which was instrumental in promoting BitConnect and recruiting new investors. After doing so Arcaro went into hiding and has not been seen or heard from in public since. He [Continue reading…]