Bitconnect, which has been accused of running a Ponzi scheme, shuts down


Bitconnect, the lending and exchange platform that was long suspected by many in the crypto community of being a Ponzi scheme, has announced it’s shutting down.

In a release on its website the platform said the shutdown is attributed to “continuous bad press” surrounding the platform, two cease and desist letters from both Texas and North Carolina’s securities boards, and continuous DDoS attacks on the platform.

While the platform says they’re refunding all outstanding loans at…

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TotalCrypto’s take on who’s involved and what’s happening now:


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