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.

But yet Americans are the most pussy, softest motherfuckers ever. Crybaby ass motherfuckers man.

Crybabies. No other country is crying about anything.

You go look at a Vietnam video, they still having BitConnect conferences. They still throwing them shits.

(Americans are) a bunch of fucking pussies man.

While I can’t speak to Vietnam, in neighboring Indonesia footage of a BitConnect event held on January 28th directly contradicts James’ assertion.

Turns out victims anywhere in the world aren’t happy about being scammed in a Ponzi scheme. Who knew? [Continue reading…]

The gulf between USI-Tech management’s narrative and what actually happened continues to widen, following a January 31st news-release issued by the Texas Securities Board. [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. [Continue reading…]

Bitcoiin provide no information on their website about who owns or runs the business.

The Bitcoiin website domain (“bitcoiin.com”) was initially registered back in August, 2015.

The domain appears to have been up for sale throughout 2017, until it was purchased by its current anonymous owners on or around January 8th, 2018.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Platinam Capital provide no information about who owns or runs the company on their website.

The Platinam Capital website domain (“platinam.org”) was privately registered on November 6th, 2017.

An address in London, UK is provided on the Platinam Capital website. Further research however reveals the address is that of a Post Office, who on their website advertise virtual office services.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Bit-Trade operate in the MLM cryptocurrency niche and claim to be based out of Vancouver, Canada.

Supposedly heading up the company is Philippe Nicolas.

A stock image of a white guy in a suit in used to represent Nicolas. The same image appears on a number of other websites.

Given this it is assumed that Philippe Nicolas doesn’t exist and Bit-Trade has no operations in Canada.

The Bit-Trade website domain (“bit-trade.io”) meanwhile was privately registered on July 28th, 2017.

At the time of publication Alexa estimate that 100% of traffic to the Bit-Trade website originates out of India.

This strongly suggests that whoever is running Bit-Trade is likely also based out of India.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Although monetary relief is still a ways off, USFIA victims can probably except a claims process to go live before mid 2018.

In his January 29th Tenth Interim Report, the USIFA Receiver claims he’s developed a “recommended claims process”.

The claims process will be filed in court “in the coming days” and if approved, ‘will commence work leading to a distribution to investor/victims‘. [Continue reading…]

Profitable Morrows operates in the financial MLM niche and claims to be based out of Australia.

An address in Canberra, Australia is provided on the Profitable Morrows website.

Further research however reveals the address actually belongs to Servcorp, a virtual office space provider.

Elsewhere on the Profitable Morrows website the company claims to be “officially registered in Australia”.

A search on the ASIC website reveals Profitable Morrows Pty Ltd was registered with ASIC on July 15th, 2017.

Listed as CEO of the company on the Profitable Morrows website is “Aaron Cooper”.

Cooper is represented by a generic stock image of a white guy in a tie and an equally generic paragraph riddled with finance-speak cliches.

Given the lack of independent information about Cooper in relation to Profitable Morrows, it’s assumed he doesn’t actually exist. At least not as represented by Profitable Morrows.

The Profitable Morrows website domain (“profitablemorrows.com”) was privately registered on June 6th, 2017.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

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 victim-shaming. [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 particularly interesting about this suit is a TRO has already been granted. [Continue reading…]