BitConnect @ BehindMLM

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. In the fifty-page lawsuit, BitConnect victims Charles Wildes, Fransico Doria, Aric Harols, Akiva Katz, James Gurry and Ronald Nelson seek to recover $771,000 in losses. They hope to do this [Continue reading…]

Trevon James is one of the top US BitConnect investors. Along with most of the other top US BitConnect investors, James primarily promoted BitConnect through a YouTube channel. At the time of publication James’ channel boasts 137,000 subscribers. Not surprisingly, following BitConnect’s collapse shills like James have been copping a lot of flak. [5:04] I’m [Continue reading…]

Glenn Arcaro is known primarily throughout the BitConnect investor community as the top US BitConnect investor. CryptoNick was a successful BitConnect investor, who primarily promoted the Ponzi scheme through his YouTube channel. In videos that have since been deleted, CryptoNick boasted of earning hundreds of thousands of dollars in BitConnect referral fees. That’s on top [Continue reading…]

In the wake of BitConnect’s collapse, BCC points have plummeted from around $225 to a low of about $5 each. This hasn’t gone unnoticed by the company’s owners, who in a news update today promised BCC to BCCX conversion support and to reopen the internal exchange.

In what appears to be an attempt to cover their tracks, admins of the popular BitConnect Reddit have set the discussion forum to private. Prior to the decision, discussion on the BitConnect Reddit raised the prospect of admins being held legally accountable for promotion of a Ponzi scheme.

Following the collapse of BitConnect, a common question on the mind of those who didn’t get sucked in is “how on Earth did this happen?” I’ve been wanting to cover BitConnect’s bizarre October event in the US for some time. I figure now is as good a time as any, and hopefully at the same [Continue reading…]

In what is believed to easily be the largest MLM cryptocurrency Ponzi collapse, earlier today BitConnect announced they were terminating ROI payments.

As US authorities close in on the BitConnect Ponzi scheme, it appears the top US BitConnect affiliate investor has gone into hiding.

With just hours to go before the launch of BitConnectX, the next incarnation of the BitConnect Ponzi scheme, North Carolina has issued an emergency cease and desist against the company.

The next phase of revenue generation for the BitConnectX Ponzi scheme was to launch BitConnectX as an ICO. Making absolutely no sense considering BitConnect already operates the BCC cryptocurrency, BitConnectX is widely seen as a last-ditch cash grab. Gullible affiliates are buying it though, with most investors willing to ignore warning signs and invest anyway.