BitConnect

YouTube Added as Defendant in Class Action Lawsuit Against BitConnect

1 week ago admin2 0
According to court documents filed July 3, YouTube has been added as a defendant in a class action lawsuit against BitConnect. The lawsuit was initially filed on January, 24 by six individuals represent by law firm Silver Miller. The claimants state that crypto investment platform BitConnect issued crypto tokens that were unregistered securities, and obtained Read More

$9 Million a Day Is Lost in Cryptocurrency Scams

5 months ago admin2 Comments Off on $9 Million a Day Is Lost in Cryptocurrency Scams
Security In the time it takes you to read this sentence, $850 will have been lost to cryptocurrency scams. In the time it takes to complete this article, that figure will have risen to $17,000. Phishing; fraud; theft; hacking; it’s all rife. In the first two months of 2018, there were 22 separate scams involving Read More

Facebook Bans Cryptocurrency Ads

6 months ago admin2 Comments Off on Facebook Bans Cryptocurrency Ads
Regulation Following persistent complaints about spammy and fraudulent cryptocurrency ads, Facebook has issued an outright ban. As of a new ruling issued on January 30, “ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency”. The move is Read More

BitConnect Hit With Second Lawsuit Over Ponzi Allegations

6 months ago admin2 Comments Off on BitConnect Hit With Second Lawsuit Over Ponzi Allegations
A new lawsuit has been filed in connection with the controversial BitConnect cryptocurrency investment scheme, the second such case to be filed in the past month. The lawsuit, filed on behalf of Kentucky resident Brian Page, names BitConnect International, BitConnect LTD, Bitcoinnect Trading LTD and Ryan Maasen as defendants. Submitted on Monday, Page is seeking Read More

Bitconnect Shuts Down Its Exchange Citing a String of Excuses

6 months ago admin2 Comments Off on Bitconnect Shuts Down Its Exchange Citing a String of Excuses
Altcoins In a move that will surprise few observers, Bitconnect has announced that it is closing its lending and exchange platform. The company has widely been accused of operating a Ponzi scheme and was recently rocked by cease and desist notices in two US states. Immediately after the firm declared its intention to wind things Read More

Bitcoin Mining Suited to Big Corporations, Individuals Can Profit in Other Ways

8 months ago admin2 Comments Off on Bitcoin Mining Suited to Big Corporations, Individuals Can Profit in Other Ways
The days of mining Bitcoin in your bedroom on a desktop computer are long gone. It used to be that a small network of staunch Bitcoin supporters would mine the cryptocurrency on individual systems, more as a hobby than anything else. But as time went by, this became more and more of a challenge. At Read More

Cracks Appear as Critics Label Bitconnect a Ponzi Scheme

8 months ago admin2 Comments Off on Cracks Appear as Critics Label Bitconnect a Ponzi Scheme
Economics To its founders, Bitconnect “is an open source, peer-to-peer, community-driven decentralized cryptocurrency that allow people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment”. To its critics, Bitconnect is a pyramid scheme that rewards early adopters and leaves stragglers holding their bags. While cynics Read More

A Closer Look at How Three of the Biggest Scamcoins Lure Its Investors

8 months ago admin2 Comments Off on A Closer Look at How Three of the Biggest Scamcoins Lure Its Investors
Op-Ed Run-ups of the kind bitcoin is having in price and valuation make fertile ground for scams. Scams are valuable and very teachable moments. Skin in the game, by having plunked hard-earned cash down to see a return on investment, means vigilance and due diligence are musts.    Also read: GAW/Paycoin CEO Josh Garza Held Liable Read More