FBI Wants Bitconnect Investors' to Help Investigate $2.5 Billion Crypto Scam

The Federal Bureau of Investigation (FBI) is seeking those who were affected by the close down of Bitconnect to help them in its investigation. Bitconnect had stopped its operations in January 2018 after receiving a cease order from the Securities Commissioner of the state of Texas. According to the FBI, the company’s shutdown left its investors stranded with a worthless cryptocurrency.

FBI Seeks for Investors in Bitconnect Investment Scheme

The FBI is seeking for victims of Bitconnect, a London-based cryptocurrency investment scheme which began in 2016. Bitconnect coin (BCC) whose initial coin offering (ICO) was held in November 2016, attained a market capitalization of over 2.5 billion by December 2017 when Bitcoin reached its all-time high of $20,000.
Like the Bitcoin bubble that was burst, so did the investment scheme end. This was triggered by cease orders issued to the company by two U.S. state-level securities regulators. Bitconnect’s course of action was to pack up which greatly influenced the price of its cryptocurrency.

Bitconnect Fails to Keep its Promise on Increase on Investments

Asides aiding in the devaluing of its virtual currency, the FBI was quick to note that Bitconnect had promised its investors 10 percent of their investment every month. However, this was no longer the case given that the company had completely shut down its business.
Accordingly, the FBI has provided a form to be filled online by people who had invested in BCC and were affected by the shutdown. They have also pointed out that they will review such submissions and get back to those whose fillings are interesting enough to help them in their investigation.

Your responses are voluntary but would be useful in the federal assessment of this matter and to identify you as a BCC investor and/or potential victim. Based on the responses provided, you may be contacted by the FBI and asked to provide additional information.

Despite Shut Down, Bitconnect Still Has Promoters

Despite the shutdown, it appears the company still has firm believers in its product. This group of people is trying to revive the digital asset, and on closer inspection, a Discord channel has been dedicated to this cause. In the same vein, a user of the platform revealed that BCC is active on CoinPaprika.
On the other hand, BTCNN on January 9 reported that John Bigatton, Director and Shareholder of BitConnect International Plc, has been banned from travelling by an Australian Federal court. Also, Bigatton whose wife, Madeline Bigatton has reportedly gone missing since May 2018.

Related posts
AltcoinsAnalysisHideCryptopanicNewsNews 1SocialTrading View

Tezos price analysis: 11 March

The Bitcoin market has been recovering from the drop it witnessed last week. Along with the Bitcoin market, the altcoin market was also seeing a surge, carrying the value higher in the short-term. WitThe post Tezos Story continues on AMB…
AltcoinsBitcoinBTC Trading ViewNewsNews 1SocialTrading View

Analyzing the moves to the next Bitcoin ATH

Bitcoin has crossed the $56000 level based on price data from At press time, the asset was trading at $56953 and it was 15% higher than the previous week. As the price climbs towardThe post Analyzing the moves to…
BitcoinBTC Trading ViewNewsNews 1Trading View

Ironically, this infamous Bitcoin critic’s son goes ‘all-in’ on BTC

On any other day, when a long-time Bitcoin supporter goes “all in” on the asset, it wouldn’t make headlines. However, when this Bitcoin advocate happens to be the teenage son of the asset’s biThe post Ironically, this infamous Bitcoin critic’s…