BitConnect @ BehindMLM

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…]

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…]