Sudden Death of BitConnect - Real Reasons it Occurred Exposed. Crypto Family Mourns...

BitConnect, once one of the leading crypto currency projects, has finally ceased its operations, effectively closing the lending program and the crypto exchange of its own. BitConnect coin has lost over 90% of its value during the last 24 hours. The coin that was worth more than $440in December 2017 is now traded at around $15.
"Bad Press" and legal hurdles have been cited by the company officials. The real reason may very well be different, however, as the company engaged in ponzi scheme-like activities. The project has been called a scam more than once by crypto currency expert, including Vitamin Buterin.
"In short we are closing lending service and exchange service while BitConnect. co website will operate for wallet service, news and educational purposes", says the official statement. Company officials may have other reasons for suchlike decision:

• Amultilevel referral system with "guaranteed 40% profitability" and the company's inability to pay off its debt may very well be the real motivation behind the closure. This information though not yet confirmed, but the promise of high risk-free returns is a perfect indication of a scam.
  

• BitConnect coin (BCC) has lost over 91% of its value under 24 hours and is now traded at $23, down from all-time high of $496, observed in December 2017. Company officials have nonetheless stated that the ongoing X ICO will continue.
  With just another huge project losing what was left of its credibility, the future of the crypto currency industry remains hazy. The crypto currency market has lost over $313 billion over the course of the last 10 days, contracting 37%

• Article culled from IQ option blog* https://blog.iqoption.com/end/breaking-the-end-of-bitconnect

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