bitconnect shut's down, Exit Scam confirmed?

defango (64)in #bitconnect • 7 years ago

Bitconnect has announced that it is closing its lending and exchange platform. The company has widely been accused of operating a Ponzi scheme and was recently rocked by cease and desist notices in two US states. Immediately after the firm declared its intention to wind things up, its BCC coin plummeted from $290 to under $10 before recovering slightly. With the exchange offline, many holders have been left locked out and powerless to sell their heavily deprecated assets.

It looks like the jig is finally up and already the Price has dropped to less than $15.58 and is still falling. Currently they say they are returning funds in active loans to lenders but that really doesn't help folks with coins on exchanges or wallets. They are saying for the future they will only be operating wallets for folks.

The statement goes on to suggest that BitConnect will now operate solely “for wallet service, news and educational purposes.”

“We are closing the lending operation immediately with the release of all outstanding loans,” the statement read. “With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD [sic].”

With the coin price that should help people trying to get out of the coin but that's going to be a huge pill to swallow and their is no world on if anyone if going to actually be able to get any coin out.

@dana-edwards has been saying it's a scam for a while and has some good ideas on where this is going. I agree with her that this could be the Next MTGOX. It's lost over 1.5 billion in marketcap in less than a day.
https://steemit.com/bitconnect/@dana-edwards/bitconnect-confirmed-exit-scam

https://twitter.com/bccponzi/status/953369829150425088/photo/1