BitConnect @ BehindMLM

A builder in India has been arrested as part of a Rs. 1.5 billion bitcoin extortion bust ($22.7 million USD). Three months ago local builder Shailesh Bhatt had filed a complaint with the Gujurat Criminal Investigation Department. In his complaint Bhatt alleged extortion by the Amreli police. Amreli is a district in Saurashtra, Gujurat. Upon [Continue reading…]

Before he turned to the MLM cryptocurrency niche to scam people through, Frank Dilullo ran a Ponzi scheme through his failed Holey Donuts venture. As part of Chapter 7 proceedings, a court-appointed bankruptcy Trustee sued Dilullo for running a Ponzi scheme. The Holey Donuts Ponzi scheme saw Dilullo (right) continue to solicit new investors even [Continue reading…]

Three months after its collapse, the Ontario Securities Commission has issued an investor warning against BitConnect.

On February 22nd Baltazar Avalos filed a proposed class-action lawsuit against BitConnect. In the lawsuit Avalos sought to hold defendants BitConnect, Joshua Jeppesen, Glenn Arcaro, Trevon Brown (aka Trevon James), Ryan Hildreth, Craig Grant, Nicholas Trovato (aka CryptoNick) and Ryan Maasen liable for $110,000 in losses. On March 14th Avalos informed the Californian Northern District [Continue reading…]

One of the larger channels still promoting ICO lending Ponzi schemes on YouTube is “Team US Crypto Baller”. Starting out with BitConnect, as many did, since the Ponzi scheme’s collapse the Team US Crypto Baller channel has been used to promote numerous ICO lending Ponzis, most of which have since collapsed. It was recently revealed [Continue reading…]

In a March 5th YouTube video titled, “GLAD I DON’T KNOW WHO’S BEHIND BITCONNECT”, top investor Trevon James has confirmed the FBI are investigating BitConnect.

`In a video titled “My court date is March 16th 2018”, Trevon James has confirmed a BitConnect government investigation and lawsuit.

When I checked the various BitConnect lawsuit case dockets a few days ago, other than a preliminary injunction granted against Ryan Maasen, there wasn’t anything significant to report on. Behind the scenes though, BitConnect’s biggest promoters appear to be preparing for the worst.

A preliminary injunction has been granted Ryan Maasen in the filed Kentucky BitConnect class-action lawsuit.

A seventh lawsuit has been filed against BitConnect and several of its top promoters. Baltazar Avalos filed his class-action lawsuit on February 22nd in California’s northern district. Named as defendants in the suit are BitConnect, Joshua Jeppesen, Glenn Arcaro, Trevon Brown (aka Trevon James), Ryan Hildreth, Craig Grant, Nicholas Trovato (aka CryptoNick) and Ryan Maasen.