Tag Archives: Bitconnect

Australian Federal Court Imposes Travel Ban, Fund Freeze on Bitconnect Promoter

The Federal Court of Australia has imposed a travel ban and frozen the funds of John Bigatton, a promoter of reported $2.6 billion Ponzi scheme Bitconnect, daily newspaper The Sydney Morning Herald reports on Jan. 5. Bigatton is reportedly listed as a director and shareholder of BitConnect International Plc and the only representative of Bitconnect Australia. Bigatton’s wife,… Read More »

Australia: Regulators Freezes Assets of BitConnect Promoter John Bigatton

John Bigatton, the only representative for BitConnect Australia, has had his assets frozen by the  Australian Securities and Investments Commission (ASIC), functions very similarly to the Securities and Exchange Commission in the United States. Bigatton can’t travel, as part of the ongoing investigation. In the video below, Bigatton celebrates with BitConnect victims as cash rains to a Star… Read More »

Dead Altcoins: Telltale Signs of a Doomed Cryptocurrency

The big bear year of 2018 has battered all digital currencies leaving no survivors. The majority of them have lost over 80% since their peaks this time last year. Some have lost even more and developers have closed up shop leaving the altcoins to die a slow death. Research undertaken by crypto analyst Nic Carter looked at fifteen… Read More »

Despite Taking Down 90 Crypto Scams, US Regulators Recovered Just $36 Million for Victims

Regulators in the United States have filed over 90 cryptocurrency fraud cases in the last two years, the Wall Street Journal reports. While it is difficult to determine the amount that investors have lost, regulators at both the federal and state level have only managed to get back US$36 million, a figure considered paltry. What has made it… Read More »

Bitconnect Pumper Trevon James Claims the Bitcoin Price is Going to Zero

Advertisement Crypto social media personality Trevon James, who was intimately involved in the promotion of the HYIP scheme BitConnect, which eventually led to law enforcement and legal action, says, in his infinite wisdom, that the Bitcoin price will be at $0 in ten years. 10 Years from now it won’t matter if you bought Bitcoin at $4,000 or… Read More »

New BitConnect Lawsuit Combines Previous Efforts Against Crypto Scam

Half a dozen lawsuits against the allegedly fraudulent cryptocurrency scheme BitConnect have now been combined into a single legal effort. According to court documents filed last Thursday, a new Amended Consolidated Class Action Complaint has been initiated in the U.S. District Court for the Southern District of Florida. The new class action – coming months following its shutdown… Read More »

Exit Scam in Wonderland: Bitconnect’s Tentacles From Texas to Gujarat

An American musical prelude Bitconnect, the now-defunct crypto lending and exchange platform that has been ousted as a ruinous Ponzi scheme, has memorably been compared by the Silver Miller law firm to the fleeting 2011 Broadway musical “Wonderland,” based on the dizzying impossibilities of Alice’s adventures in Lewis Carroll’s celebrated novel. Silver Miller’s first class action complaint was… Read More »

U.S. States Ask Indian Authorities to Seize Property of BitConnect Promoters

Advertisement 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. BitConnect was an open-source cryptocurrency and an investment program accused of running a Ponzi… Read More »

Bitconnect Finally Gets Delisted From All Crypto Exchanges — “Officially Dead”

Crypto Exchange TradeSatoshi Bids Bitconnect Farewell Bitconnect, crypto’s now most infamous pyramid scheme, used to a hot topic of discussion within the cryptosphere, with everyone and their dog having something to say about the project. For those who are unaware, although the platform’s business model obviously resembled a classic pyramid scheme (1% daily rewards, referral commissions, and the… Read More »