A crypto project in China is increasingly revealing itself as a big scam, with fake team members and the obvious appearance of a pyramid scheme.
The investigation in BitConnect’s alleged Ponzi scheme continues, and the FBI is looking for help to get to the bottom of it.
The Australian Securities and Investment Commission has frozen the assets of John Bigatton, BitConnect’s Australia representative.
Police in Tokyo have arrested eight individuals in connection with a BTC pyramid scheme alleged to have swindled as much as $68.4 million from its victims.
A newly consolidated lawsuit has been filed against BitConnect, several months after several cases have been brought forth against the company's alleged fraudulent pyramid scheme at the beginning of 2018.
The two-year investigation has spanned over 20 provinces across China, with authorities recognising the $2.3 billion scheme as one of the biggest investigations to date.
It has the makings of a Steven Seagal action film, but his much publicized and vaunted cryptocurrency called Bitcoiin—yes, with two i's—doesn’t appear to be going anywhere soon.