The Writing’s on the Wall for Alleged Cryptocurrency Ponzi Scheme BitConnect

The Writing’s on the Wall for Alleged Cryptocurrency Ponzi Scheme BitConnect

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 resurgence in the past week when Ethereum founder Vitalik Buterin tweeted that Bitconnect is a Ponzi scheme if it promises a daily one percent return on investment. What is BitConnect? According to its website , Bitconnect “is an open […]

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