BitConnect Officially Shuts Down — Ponzi Scheme Confirmed
Just one week after the proposed date of its initial coin offering (ICO), England-based financial startup BitConnect officially announced on its website that it is shutting down its cryptocurrency lending and exchange platform.
This decision was made following warnings issued earlier this month by regulators in Texas and North Carolina that the company was engaging in the sale of unregistered securities tied to a token sale.
“We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North …
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