Well-known Ponzi scheme, Bitconnect is set for a relaunch on July 1

19 May, 2019
by Richard Allen
News
Well-known Ponzi scheme, Bitconnect is set for a relaunch on July 1

It’s an interesting time in the crypto sphere. As the markets are setting new yearly highs and excitement builds around Bitcoin’s potential, news has begun circulating that someone is trying to revive Bitconnect, a project best known for being a Ponzi scheme.

Bitconnect became one of the most hyped projects of 2017 after YouTube and Twitter personalities promoted the project to gain affiliate payouts. However, by 2018 it had become apparent that Bitconnect was a scam and a class action lawsuit was filed, followed by the arrest of the Asia head of Bitonnect.

As such, many were taken by surprise when Bitconnect 2.0 was announced late last year. While the website stated the infamous project would be relaunching soon, nothing of the sort has happened. However, as NullTX reports, an email has been doing the rounds which claims Bitconnect’s return is imminent. This is further corroborated by a tweet stating Bitcoinnect 2.0 will be officially launching on July 1, 2019. 

A quick search on WHOIS reveals the domain name will expire this time next month, meaning the domain name will be taken offline before Bitconnect 2.0 even launches. Considering no one knows who's in control of the domain, it’s going to be interesting to see how this plays out.

  

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