Bitconnect is done. Was it a ponzi scheme after all?

Bitconnect is done and dead by the looks of it. Amongst the downward trend of all Cryptos Bitconnect is finished. They announced on their website that they're going to halt their lending and exchange platform. Video to be uploaded in 30 minutes.

The reasons they gave are below:

The continuous bad press has made community members uneasy and created a lack of confidence in the platform.

We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division. These actions have become a hindrance for the legal continuation of the platform.

Outside forces have performed DDos attacks on platform several times and have made it clear that these will continue. These interruptions in service have made the platform unstable and have created more panic inside the community.