BitConnect
A 'lending bot' that promised roughly 1% a day and paid through a multi-level referral structure. It shut its lending platform and exchange in January 2018, and the token lost most of its value within a day.
- 1-2y
- 2-1y
- 3-1y
- XDeath
Spacing is ordinal, not to scale. Numbers match the list below.
- 1
The 'trading bot' behind the returns was never shown or audited.
Visible 2 years before death | Closed or unaudited code
U.S. Securities and Exchange CommissionU.S. Department of Justice (SDCA)
- 2
Promised ~1% a day, an annualized return that is mathematically absurd.
Visible 1 year before death | Guaranteed returns
U.S. Securities and Exchange CommissionU.S. Department of Justice (SDCA)
- 3
Rewards for recruiting new members, not for lending.
Visible 1 year before death | Pay-to-recruit referrals
Guaranteed daily returns are the oldest tell in the book.
- SEC Charges Global Crypto Lending Platform and Top Executives in $2 Billion FraudU.S. Securities and Exchange Commission
- Founder of Fraudulent Cryptocurrency Charged in $2 Billion BitConnect Ponzi SchemeU.S. Department of Justice (SDCA)
- BitConnect price, BCC (historical market cap)CoinMarketCap
Editorial summary of public reporting. Allegations are labeled as allegations. Not financial or legal advice.
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