{"id":7992,"date":"2018-08-13T00:00:00","date_gmt":"2018-08-13T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/08\/13\/bitconnect-exchanges-on-september-10\/"},"modified":"2018-08-13T00:00:00","modified_gmt":"2018-08-13T00:00:00","slug":"bitconnect-exchanges-on-september-10","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitconnect-exchanges-on-september-10\/","title":{"rendered":"BitConnect will no longer be offered in exchanges on September 10"},"content":{"rendered":"

\u2018Too good to be true\u2019<\/em>. With this statement, the crypto community opened the eyes before the impressive return of investment offered by BitConnect, one of the latest blockchain scams.<\/strong><\/p>\n

The total dissappearence of the BitConnect<\/strong> (BCC) token might take place in approximately one month, since it will be eliminated from the last cryptocurrency exchange that is still offering to clients.<\/strong><\/p>\n

Scam ahead<\/strong><\/h2>\n

Since its conception back in January, 2017, people were skeptical on the services offered by the aforementioned platform, which prompted people to think that it was a Ponzi scheme<\/strong> \u2013 offering 120 % year performance to those who invested in its cryptocurrency.<\/p>\n

Back then, they assured to their clients that the platform was gaining interest by having its cryptocurrencies \u201cto help keep the security of the network\u201d<\/em>. As expected, a lot of investors lost thousands of dollars in the process.<\/p>\n

This situation originated legal consequences for the directive of the company, given that the losses \u2013 from both investors and creditors \u2013 rise up to $ 770,000. With such precedent, it seems illogical to think that there is still a crypto-exchange listing this token in its platform and even so, the exchange TradeSatoshi keeps offering this cryptocurrency<\/a><\/strong>.\"<\/a>However, it did not go unnoticed by the US Securities and Exchange Commission (SEC), which issued the trading platform an ultimatum to eliminate<\/a><\/strong> the illicit cryptocoin, giving it until September 10 to comply with the order.<\/p>\n

\u2018Bitcoin Tre\u2019<\/strong> summoned <\/strong><\/h2>\n

Said decision is taken following the subpoena issued to the exchange founder Trevon James<\/strong> a few days ago, in order to testify regarding the links between the platform and the token scam. James stated in his social media:<\/p>\n

\u201cI just got a phone call from the SEC. I\u2019m being subpoenaed to testify to the SEC in New York City on September 14th. They want to hear my side of Bitconnect\u00a0\u2013 so I am very glad to tell my side about Bitconnect. It\u2019s a very \u2013 I like telling the story. It\u2019s a pretty epic journey from where I started to now. So that\u2019s my update for everyone \u2013 because I get everyone asking \u2018what\u2019s going on with you? Are you alive? When jail sir? When jail?’\u201d<\/em><\/p>\n

He also exhorted interested developers to testify and to reiterate their faith in BitConnect, demonstrating that they are still investing in his ICO project. This call was made via a video published on YouTube.<\/p>\n

To be noted, YouTube and other companies has been splashed by the misfortune that represented BitConnect, due to them authorizing the promotion of this company, through its platform.<\/p>\n

In the meanwhile, the future of the BCC will depend on the testimony offered by Trevon before the courts next September, although several experts asserted that its perma-ban is assured.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u2018Too good to be true\u2019. With this statement, the crypto community opened the eyes before the impressive return of investment offered by BitConnect, one of the latest blockchain scams.<\/p>\n","protected":false},"author":3,"featured_media":7994,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4816],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/7992"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=7992"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/7992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/7994"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=7992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=7992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=7992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}