BitConnect Pyramid Scheme Collapse and SEC Enforcement

Documented

BitConnect was a cryptocurrency-linked lending platform (2016–2018) whose high‑yield lending program and multilevel marketing attracted regulator scrutiny; the platform shut down in January 2018 amid cease‑and‑desist orders and a rapid collapse in token value, and U.S. authorities later brought civil and criminal cases against promoters and alleged operators. The SEC’s civil complaint (2021) and parallel DOJ criminal actions alleged fraud and large investor losses.

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financial fraud / cryptocurrency2016-20182 views

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Bitconnect

Program

Active 2016-2018

Open‑source cryptocurrency (ticker BCC) and associated lending platform (2016–2018) that offered advertised high daily returns via a purported "trading bot" and used an affiliate/multilevel marketing structure.

Launched 2016
Lending program promised high returns
Shutdown January 16, 2018
Price crashed ~92% after shutdown

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BitConnect Pyramid Scheme Collapse and SEC Enforcement

Claims and evidence(15)

Sources(14)