Tag: Bitconnect

Cryptocurrency-related lawsuits have officially reached its peak, tripling in 2018 According to a 2018 Securities Litigation Report released on September 11 by Lex Machina. The number of cases mentioning Bitcoin or blockchain has increased significantly from the previous years, which coincide with the rise and fall of bitcoin and other cryptocurrencies. Increase in Lawsuits and the Nomination of SEC Chairman…

READ MORE

The man behind the Asian branch of the $2.4 billion cryptocurrency scam operation Bitconnect has been arrested by police officers on August 18, 2018, from the Gujarat Criminal Investigation Department at Delhi Airport on his return to India. Divyesh Darji, who has reportedly been living as a fugitive in Dubai was apprehended at Delhi Airport as the investigation into the…

READ MORE

The Bharatiya Janata Party (BJP), India’s ruling political organization, was accused by their predecessor Congress for alleged involvement in a “multi-tiered” bitcoin scam estimated at $763 million. Scam May Cross $12 Billion As reported by local news NDTV on July 6, 2018, the Congress Party in the state of Gujarat demanded a Supreme Court intervention after party workers claimed several…

READ MORE

Legal proceedings are fast gaining traction several months after the infamous cryptocurrency Ponzi scheme Bitconnect was shut down in January 2018. YouTube to Testify Against Bitconnect In the latest development, video-streaming platform YouTube has been added as a defendant in a class action lawsuit against Bitconnect, as observed in a court filing dated July 3, 2018. Initially filed on January…

READ MORE

A quirky Lightning Network powered gift shop and novelty store called Moonstuff has just gone live. The site boasts a handful of clever objects that could make any cryptocurrency fan the envy of their office. Prices for the objects are pretty high, but they certainly are unique. Join us as we go over the “Initial Novelty Offering” for Moonstuff. Figurines…

READ MORE

While the Bitconnect Ponzi scheme has been dead and buried in the U.S., its ghost is still causing mayhem in India. In the latest development, the Ahmedabad Criminal Investigation Department (CID) has arrested a Bitconnect investor, Shailesh Bhatt for forcefully extorting more than 2,000 bitcoin from promoters of the cryptocurrency-powered pyramid scheme. Get Rich Quick According to the Times of…

READ MORE

Bitstrade, an online platform that dubs itself an open source digital banking and cryptocurrency investment solutions platform has been issued with a cease-and-desist order by the New Jersey Bureau of Securities. Same Story, Different Platform According to the New Jersey Division of Consumer Affairs, the Attorney General Gurbir S. Grewal and the Division of Consumer Affairs has announced that the…

READ MORE

A Washington man has dragged mobile telecommunication giant T-Mobile to court after being walloped by hackers. His cryptocurrency account has been entirely wiped out by the cyber bandits, and now he says it’s the company’s fault. T-Mobile Underfire Carlos Tapang of Washington, United States, has filed a lawsuit in the Washington Federal Court against T-Mobile, alleging that the firm’s weak…

READ MORE

A Louisville resident has filed a lawsuit against a firm based in the UK in a federal court, claiming he was swindled by a cryptocurrency scam investment scheme organized by the company. The case filed in U.S District Court in the Western District of Kentucky is not the first lawsuit by investors determined to recover money paid to BitConnect, the…

READ MORE

Following the sudden closing down of BitConnect, an exchange and lending platform for cryptocurrencies, a group of investors began legal proceedings recently to get back their funds according to a document that was made public. This is a class action case, and it was filed on January 24, 2018, with the Southern District Court of Florida. It is alleged that…

READ MORE