Tag: Bitconnect

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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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The controversial cryptocurrency, Bitconnect, has once again landed in the spotlight for the wrong things. According to the company’s website, it has officially announced to shut its lending and exchange service following warnings from US State regulators.   Identifying Malicious Intent Due to the announcement, the Bitconnect (BCC) price in USD plunged over 90 percent according to Coin Market Cap…

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The cryptocurrency Bitconnect (BCC) has rallied from less than $1 in January to reach an all-time high of over $286 in early November 2017. However, Bitconnect’s impressive year-to-date rise in value did not occur without controversy. The cryptocurrency “investment” platform has increasingly come under fire for allegedly being a Ponzi scheme. This criticism of the Bitconnect platform had made a…

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