THELOGICALINDIAN - With all cryptocurrency markets tanking in amount it is axiomatic there will be some big changes More accurately some currencies are all but abolition to the arena as we allege BitConnect the abominable Ponzi Scheme is assuredly affair its annihilation by the attending of things Thanks to the contempo amount declines the amount of BCC alone by over 80 Moreover the built-in barter has bankrupt its doors and the subReddit is angry to clandestine Good auctioning according to abounding cryptocurrency enthusiasts
It was alone a amount of time until BitConnect would assuredly collapse. Thousands of bodies bought into this betray and some of them may accept alike fabricated money. Most users, however, apparently never got their money out of this affairs whatsoever. That is alone normal, as over 95% of all trades were conducted on the built-in BCC exchange. When a currency’s developers additionally run the capital exchange, you apperceive things are not consistently activity to end well.
Curtain Call for BitConnect
To put this into perspective, the BitConnect price has alone by a lot. Over the accomplished week, it went from about $400 all the way to $27. Such a abrupt abatement seems to affirm the developers assuredly completed their admirable avenue scam. It is additionally accessible they acclimated the ‘stolen” Bitcoins to blast the accepted market. Whether or not that closing allotment is a cabal approach or the arduous reality, charcoal to be seen. It is axiomatic the BCC barter had admission to a lot of BTC, though. Either way, it seems this Ponzi Scheme is gone for good, which can alone be advised to be a acceptable thing.
Furthermore, it seems the project’s subReddit is no best accessible. Rather than abrogation it accessible to the public, it is now absolutely private. No one who isn’t “approved” can’t admission this subreddit or see what is actuality acquaint there. A actual awkward about-face of contest for the bodies still cat-and-mouse to get their money out. They were warned dozens of times about this Ponzi Scheme, though. Anyone who absent money due to BitConnect alone has themselves to blame. It is a acrid reality, but that’s what bodies get for falling for snake oil practices.
For now, it is cryptic what the approaching will hold. It seems the BCC Exchange has additionally shut its doors for now. This is added affirmation of the abominable attributes of this accurate “investment program”. It is a amount of time until the added exchanges abolish BCC from their platform, by the attending of things. We can alone achievement not too abounding bodies absent money because of BitConnect. At the aforementioned time, it seems acceptable the aggregation ran off with a few dozen actor Dollars in the end.
