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Ponzi Scheme coin Bitconnect to delist on last tradable exchange

11 Aug, 2018
by Ryan Boltman
News
Ponzi Scheme coin Bitconnect to delist on last tradable exchange

Bitonnect ($BCC) was once a top 20 coin with a market cap of over $2.5 Billion. The lending platform token became one of the most hyped projects in 2017 with Youtube personalities and social media gurus all punting the lending platform to gain affiliate payouts. 

The project was eventually called out as being a ponzi scheme and as soon as people got wind that there was a class action lawsuit against the project, The train derailed. 

Bitconnect saw its already declining price plummet from $205 to $6.55 in less than 24 hours following the news. The project has since been fighting a legal battle regarding its operations and the loss of funds to many of its investors. 

Currently $BCC is only tradable on Trade Satoshi, a smaller exchange ranked currently #136 with a total 24 hour volume of $500,000. Following the delisting of the token on several major exchanges, Trade Satoshi remains the last exchange for $BCC to be traded.   

However, come September 10, Trade Satoshi will be delisting $BCC and the token will ultimately become untradable.  

The coin is currently worth $0.68 with a daily volume of $0. Not surprising. 

Bitconnect will always serve as a reminder of what a ponzi scheme looks like, coupled with over-hyped personalities parading around at seminars screaming "Bitconnneeeeeeeeeeeeeeect!!!" RIP. 

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