[ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency

[Daltonik]

The SEC and four of the six promoters of the fraudulent cryptocurrency project Bitconnect have reached a settlement agreement. The agreement implies the payment of $3 million by Joshua Jeppesen, $576 thousand by his fiancee Laura Mascola, $526,000 by Ryan Maasen and the amount requiring clarification by Michael Noble.
Two other participants in the process, Craig Grant and Ryan Maasen, have not yet reached an agreement with the Commission, Law360 reported https://www.law360.com/fintech/articles/1401112
https://outline.com/UpAFzp

[nutildah]

I doubt this will do much in the way of dissuading future scam promoters as its just too lucrative a business for them to stay away from. However, its still better than nothing.

[Daltonik]

The US Department of Justice and the Prosecutor's Office for the Southern District of California will sell a cryptocurrency worth $56 million, confiscated from the former director and promoter of the BitConnect fraudulent scheme Glenn Arcaro. The proceeds will be used to compensate the affected investors.
https://www.justice.gov/opa/pr/56-million-seized-cryptocurrency-being-sold-first-step-compensate-victims-bitconnect-fraud

[domecripto]

This means that there's a possibility to have back our money?

[xxx000anon]

So its January 2022, call me crazy or whateva u want, but I'm trying to collect some Bitconnect coins. I have a collection of rugged, scam, tokens I want to add BCC to it. The Blockchain is still running, any info on how to obtain/buy? Appreciate it.

[frankwalter]

So its January 2022, call me crazy or whateva u want, but I'm trying to collect some Bitconnect coins. I have a collection of rugged, scam, tokens I want to add BCC to it. The Blockchain is still running, any info on how to obtain/buy? Appreciate it.

Just buy it from an exchange https://www.unnamed.exchange/Exchange?market=BCC_BTC

[Daltonik]

On February 25, a federal grand jury in San Diego accused the founder of the BitConnect project, Satish Kumbhani, of fraud in the amount of $2.4 billion. The indictment alleges that the BitConnect project worked under a ponzi scheme, paying earlier investors funds at the expense of later participants. If found guilty on all counts, Kumbhani faces up to 70 years in prison.

Source: https://www.justice.gov/opa/pr/bitconnect-founder-indicted-global-24-billion-cryptocurrency-scheme

[Daltonik]

Well, it seems that the founder of BitConnect, Satish Kumbhani, accused of fraud in the amount of $2.4 billion with the help of a Ponzi scheme, managed to escape, so according to the SEC, he could not be handed court documents and his whereabouts are unknown.

Source: https://storage.courtlistener.com/recap/gov.uscourts.nysd.565927/gov.uscourts.nysd.565927.28.0.pdf

[dejaba]

scammed by the U.S. govt again smh!

[Daltonik]

A court decision was issued to reimburse 800 users affected by the Bitconnect ponzi scheme, $17 million will be distributed among them, while users lost $2.4 billion as a result of the actions of fraudsters. This decision was made by the Federal District Court in San Diego.

https://www.justice.gov/opa/pr/crypto-fraud-victims-receive-over-17-million-restitution-bitconnect-scheme

[nutildah]

A court decision was issued to reimburse 800 users affected by the Bitconnect ponzi scheme, $17 million will be distributed among them, while users lost $2.4 billion as a result of the actions of fraudsters. This decision was made by the Federal District Court in San Diego.

Interesting. I'm sure the 800 people are pretty pleased with their average payment of $21,250, given they were otherwise gonna get nothing.

So its January 2022, call me crazy or whateva u want, but I'm trying to collect some Bitconnect coins. I have a collection of rugged, scam, tokens I want to add BCC to it. The Blockchain is still running, any info on how to obtain/buy? Appreciate it.

I didn't know it at the time but this is my kinda collector

New blocks are being mined via Proof of Stake:

https://chainz.cryptoid.info/bcc/

I have no idea how anyone would get it seeing as how its not listed on any exchanges.