Examples of using Bitconnect in English and their translations into Vietnamese
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Is Verge the Next BitConnect?
As the BitConnect scheme grew in size, it attracted the attention of authorities.
Since its inception in January 2017, many were skeptical about Bitconnect services.
When BitConnect was closed, its token almost immediately lost more than 90% of its value.
This latter flaw may have now been fixed,but tellingly Onchainfx still lists BCN as a scamcoin alongside the likes of Bitconnect.
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Just last month, BitConnect saw its assets frozen after a previous lawsuit was filed by aggrieved investors.
The case is connected to the infamous Guarajat cryptocurrency scam implicating members of theIndian government in a money-laundering scheme involving Bitconnect.
Throughout the write-up,the state of Texas lists a number of details surrounding the BitConnect investment model, including its rate of return, lending program, and staking program.
BitConnect was widely believed to be a cryptocurrency Ponzi scheme last year, as investors managed to earn 1% a day on their investments thanks to what the team behind the project claimed to a be a trading bot.
It is important to clarify that, in addition to the Companies House,the Texas Board has targeted the exact same BitConnect registration with its cease and desist order.
The preliminary statement of the complaint describes Bitconnect as having raised“millions of dollars' worth of cryptocurrency” through“a trading platform and lending program fraudulently promoted and operated by” the defendants.
Still, the report did not provide any details about how Texas officials plan to effect the orders, and it remains to be seen whether or not they will be able to effectively regulate the buying andselling of BitConnect within the state.
Just days later, on Jan. 4,the state of Texas issued a cease and desist order against BitConnect for the selling of unlicensed securities which has led to the crash of the BCC token and the platform's closure.
During the Oct 2017 BitConnect Annual Ceremony, in which the company rallied investors and hoped to attract new ones, Carlos Matos, supposedly an“everyman” investor, gave an enthusiastic speech in support of the company.
According to the lawsuit,the Google-owned video platform failed to protect or warn its users from Bitconnect affiliates' promotional material, which reached over 70,000 hours and 58 million views on Youtube.
At the time of reporting, the market cap of Bitconnect, a crypto-network better known for its bitcoin lending platform, remains at around $346 million, making the Bitconnect network the 22nd largest cryptocurrency and blockchain network globally.
News of cryptocurrency investment fraud has hit the community again, as authorities of two U.S. states, Illinois and Arizona, have asked the Criminal Investigation Department(CID)in India to seize the property of several BitConnect promoters, per reports from the Times of India.
Many hoped that Onecoin will die off and shut down operations, just like projects-for example, Bitconnect, that actually promised 120% profit from the lending interest, they shut down after a few of prohibitions and some hater problems.
As interest and demand toward digital currencies such as bitcoin and Ethereum increased, an growing number of investors started to take interest in other cryptocurrencies in the market such as Litecoin,Ethereum Classic and Bitconnect that are amongst the largest cryptocurrencies and networks.
Indeed, the press release notes,“Sales agents for Bitconnect are targeting Texas residents, as well as residents of other states, through websites, social media, and online marketplaces like craigslist,” they allege.
BitConnect is an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunities with cryptocurrency education where it is entirely possible to find the independence we all desire, in a community of like-minded, freedom-loving individuals who, like you, are seeking the possibility of income stability in a very unstable world.
The plaintiff, Kentucky resident Brian Paige, filed the lawsuit on behalf of every investor in BitConnect, noting that bitcoin and other cryptocurrency assets had been converted into BitConnect Coin(BCC) when the company announced it was shutting down its exchange.
Head of the Asian division of Bitconnect Divyesh Darji was traveling from Dubai to the Indian capital on Saturday where he was arrested following an investigation by India's Criminal Investigation Department(CID), the investigation and intelligence branch of the Indian state police force.
After receiving cease-and-desist notifications from regulators in Texas and North Carolina and an increase in accusations of comprising a Ponzi scam, Bitconnect suddenly announced that it would shut its lending and exchange platform- leaving many Bitconnect token-holders unable to liquidate their assets, the value of which rapidly depreciated by over $95%.
In a blog post- titled"Changes coming for the Bitconnect[sic] system- Halt of lending and exchange platform" posted on its website, the company said that is“closing the Bitconnect[sic] lending and exchange platform.”.
After receiving cease-and-desist notifications from regulators in Texas and North Carolina and an increase in accusations of comprising a Ponzi scam, Bitconnect suddenly announced that it would shut its lending and exchange platform- leaving many Bitconnect token-holders unable to liquidate their assets, the value of which rapidly depreciated by over $95%.
The six plaintiffs collectively invested approximately $771,000 USD into Bitconnect, and are seeking a recourse following the sudden removal of the company's lending platform that immediately led to a more than 90% loss in the value of Bitconnect tokens.
On January 3, 2018 the Texas State Securities Board issued an emergency cease and desist order to BitConnect with several claims against the company, including that BitConnect is intentionally failing to disclose financial information about how they are going to pay those who have invested in coins in the BitConnect-QT wallet.