U.S. Asks Indian Authorities to Seize Property of BitConnect Promoters

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 […]

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Indian Police Arrest Asian Chief of Multi-Billion Crypto Scheme Bitconnect

A high-ranking promoter of Bitconnect has been arrested at the Delhi airport India for his involvement in the alleged multi-billion dollar Ponzi scheme that blew up earlier this year. Bitconnect was touted as a multi-level marketing venture wherein a trading bot would generate revenue for investors over time. Funds would be deposited, locked for a time with no […]

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Bitstrade Hit With Cease and Desist by New Jersey Watchdog

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. New Jersey’s Attorney General says the online bitcoin investment platform has been fraudulently selling unregistered securities in the state. The New Jersey Bureau of Securities, a division of AG Gurbir S. Grewal’s office, has sent a cease-and-desist letter to Bitstrade, effective immediately, […]

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Bitconnect is Facing its Second Class Action Lawsuit

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Another class-action lawsuit, along with a restraining order, has been filed against UK-based Bitconnect, this one in Kentucky. Brian Paige is suing Bitconnect for an undisclosed sum for operating an alleged online investment scam — a Ponzi scheme — in the second such […]

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Investors File Class Action Against BitConnect Following Abrupt Closure

Just a week after the abrupt closure of BitConnect’s lending and exchange platform, investors are seeking legal action to claim back their funds, according to public document. The class action case (see below), filed with the Southern District Court of Florida on Jan. 24, alleges that BitConnect issued cryptocurrency tokens that were effectively unregistered securities […]

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