BitConnect Shutdown
Over the last couple weeks, I have had a couple posts discussing BitConnect and the issues that have came to light recently. Now, the icing has been put on the cake with BitConnect officially announcing they will no longer offer their exchange/lending service.
Upon announcing this, they also stated they would refund every one involved their capital at a calculate exchange rate average over the last 15 days, which came out to be ~$360. Oh awesome, at least those involved get their money back, right?
WRONG!
They did refund the capital at that BCC rate; however their exchange service has not been working so 'investors' were stuck holding BCC and not able to trade that for Bitcoin. Now, the price of BCC has plummeted more than 80% while people are stuck holding these soon to be worthless BitConnect coins.
Not much of a refund if you ask me. I am so upset that I even had money involved in BitConnect (and still can't even log into my account). How many of you have also been scammed by this company? I would like to hear your thoughts.
I hate it for everyone but it was so obviously a scam and people should have known better
Cleaning out scams from the crypto space is a great positive in the quest for ultimate acceptance and worldwide legal legitimacy
Good to see a ponzi exposed
I feel your pain. It is super frustrating seeing a good chunk of money just vanish like that.
I'm curious of these other lending platforms that are still ongoing, as well as a new one called LendConnect and it just started Jan 12... sounds somewhat familiar...
Curious if their is a connection ...more research is needed
I too haven't been able to withdraw my worthless BCC Tokens
Yea I have been thinking the same thing, like what do people think is preventing them from having the same thing happen. It already happened to USI Tech and Bitconnect. Meanwhile I have people telling me transfer my money over to Davor or something like that, which is basically the exact same thing.